India Today Group Partners With UK’s Daily Mail For Newspaper Venture

The India Today Group has for the first time received investment from a foreign media house. The Delhi-based media company has formed a new joint venture in equity partnership with Associated Newspapers (ANL), the publishers of Daily Mail of UK, for its forthcoming morning daily venture. The financial and stake details are not disclosed. There is a cap of 26 per cent stake for foreign investors in news-based print media.
The India Today group is in the advanced stages of launching a paper, and it has started hiring key staff. The Daily Mail General Trust is a leading media house of the UK with interests in newspapers, digital properties, information and business publishing, exhibitions and radio. It’s a FTSE 100 company, and has a turnover exceeding 2 billion pounds.