Time Inc Group Publisher Michael Federle on Thursday said that his company was open to any licensing agreement or joint venture with an Indian publisher. Federle was speaking at the sidelines of the announcement of the ‘Fortune Global Forum’ event in India in 2007.
“China is the only country where we have a JV and we publish Fortune magazine in Chinese language. We are interested in the Indian market, but we can do very little due to government regulation,” Federle said.
He confessed that a year ago, the company was in talks with a few publishers for possible tie-ups which did not work out. When asked about the reason, Federle admitted, “It was because of us only. At that time, we were not ready to license our product to anybody as we were apprehensive of losing the brand value of our publications. But now we are open to both joint ventures and licensing arrangements.” Federle, however, denied there were any ongoing talks with any Indian publisher in this regard nor would he comment on any time frame for such an arrangement.
“The Group sells around 9,000 copies of Fortune magazine in India of which 93 per cent is through subscription,” J S Malhotra, President, Media Representation International, claimed. The magazine is priced at Rs 150. Malhotra holds the marketing rights for the Fortune Group, which includes magazines such as Fortune, FSB, and Business 2.0.
The Group is bringing the ‘Fortune Global Forum’ event for the first time to India in its 10-year history. The Forum, which will bring multinational business leaders, top government officials, and leaders in economics, academia, the arts and humanities from around the world, will be held in Delhi from October 29-31, 2007. The theme of the event is ‘Mastering the New Global Economy’.
Attendance at the Fortune Global Forum is by invitation only and limited to chairmen, CEOs, and presidents of major multinational companies. More than 300 participants are expected to attend, including leaders of major companies from the US, Canada, Europe, Asia and South America.
“We could think of no better place than India – and its Capital New Delhi – to serve as host city to a global dialogue amongst global leaders,” said Andrew Serwer, managing editor of Fortune. “As a potential consumer market, emerging global manufacturing centre, and powerhouse in technology and services, India is on the minds of corporate leaders around the world,” he added.
The Indian business tycoons who will grace the occasion include Nandan Nilekani of Infosys, Mukesh Ambani of Reliance, Kiran Mazumdar Shaw of Biocon, Anand Mahindra of Mahindra & Mahindra, and Wipro’s Azim Premji. CII will be the Indian host partner.