Reuters Buys 26% Stake in Broadcasting Arm of Times of India

April 25, 2005
(CoolAvenues News Wire)

News and Information provider Reuters PLC has firmed up to enter Indian market by picking 26% stake in "The Times Global Broadcasting Co. Ltd.", the broadcasting arm of Indian Media giant, "The Times of India Group". This arm is expected to launch a news channel later this year. Reuters is said to have paid around $ 20-million for this 26% stake though the financials could not be confirmed.

Times Global Broadcasting had already launched a lifestyle channel "Zoom" in September last year. However, this channel (news) will be the first foray by Times of India Group in news broadcasting in a already crowded market.

Indian news & current affairs market is witnessing considerable activity and more than a dozen news channels have been launched in last 18 months.

Concluded.

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