The Times of India Group is awaiting formal permission from the Government to launch the Wall Street Journal in India. “The proposed Wall Street Journal publication in India will come out but the exact date depends on the formal clearance from the Government,” said R. Sundar, Director-Corporate, Bennett, Coleman & Co. Ltd. (BCCL).
Sundar has also been designated as CEO of the joint venture between BCCL and Dow Jones, the parent company of Wall Street Journal. Veteran journalist Suman Dubey is the Editor.
According to the application submitted to the Government, which has been signed jointly by officials of Dow Jones and BCCL, the Indian partner will own a 74 per cent stake while Dow Jones will hold the remaining 26 per cent.
According to sources, the Wall Street Journal published in India is expected to be a 16-page issue, with two pages of Indian news. It would have an initial circulation primarily in Mumbai and Delhi and will be targeted at CEOs of company’s with business interests in the USA.