FT-BS to have joint ad schemes as tie-up formalised

MUMBAI: It's official and formal now. Business Standard will not only get to access Financial Times' content, but can also rely on its marketing muscle to give its bottomlines a boost.

The Financial Times of London today announced that it has picked up 13.85 per cent of equity stake in Business Standard, a premier Indian business newspaper, for Rs. 140.1 million and did not rule out the possibility of increasing its shareholding in the future as business expanded.

In September last, FT had announced its intention to acquire a stake in BS consequent to the government relaxing foreign investment norms in the print medium.

Addressing a press conference here today, FT Group chairman Sir David Bell said, "Like us Business Standard is aiming at the top section of business readership. That audience is growing and it needs to understand global matters better. We will bring a unique global perspective to the table. One of the things that we would be initially be looking at working together is coming out with surveys for instance on the pharmaceutical industry."

The press conference also indicates that formalities have been completed and the equity transfer has taken place along with the money transfer.

Bell went on to state that joint advertising packages would be developed for The Financial Times and Business Standard. "Some of our global clients are keen on reaching Indian readers," he explained.

Elaborating on the delay in FT's entry into India, Bell noted that rules took a long time to develop. "At the moment FT does not see the need to take more stake. As and when Business Standard's profits start increasing, FT would look at either taking some profit in the form of dividend or investing further in our print industry. Our aim is to see the Business Standard be the top financial newspaper in the country," he added.

With the Indian government allowing foreign media companies to invest in domestic media companies in 2002, announcement of the BS-FT tie-up was the first in this sector. Subsequently, Times of India group has announced a tie-up with the Asian Wall Street Journal and MJ Akbar-Venkat Ram Reddy combine have already started printing International Herald Tribune from here after registering the brand in India, which has resulted in a controversy.

From today, all editions of the Business Standard will carry one page of Financial Times content from Monday to Saturday. FT's content will also appear on Business Standard's website.

According to Financial Times In Asia editor and publisher John Ridding, "India is a very important market for FT. Growing our brand and business in India is the next step in the evolution of our Asia edition. What makes us unique is our global stance. We do not have a US agenda or a UK agenda. Reliability and objectivity are two key strengths that we offer vis-a-vis the stiff competition."

Latest Reads
A contemporary take on love online: COLORS launches Internet Wala Love

There was a time when shyly exchanged handwritten notes and a dropped handkerchief from a girl for her beau would be the onset of a potential relationship.

Television TV Channels GECs
Cosmos-Maya: The shining success story of the Indian IP Creator

Cosmos-Maya, the market leader in original Indian Kids’ animation content recently celebrated its 22ndAnnual Day.

Television TV Channels Kids
K Madhavan presents the cheque to Kerala CM Shri Pinarayi Vijayan

Star India today announced it will increase its donation to Rs 5 crores for the CM’s Distress Relief Fund for the relief and rehabilitation efforts in Kerala.

Television TV Channels GECs
Facebook to sub-license La Liga India broadcast rights to Sony

Social media giant Facebook, which recently acquired the Indian sub-continent La Liga rights for three years, has struck a sub-licensing broadcast deal with Sony Pictures Network (SPN) India, a source close to the development has confirmed to

Television TV Channels Sports
Zee Telugu’s legendary dance reality show Aata Juniors makes a comeback this weekend!

Aata Juniors, one of Zee Telugu’s iconic dance reality shows is making a comeback to the channel starting this weekend! Zee Telugu pioneered telecasting non-fiction shows at prime-time which has now created a top-of-mind recall among its viewers across Andhra Pradesh and Telangana.

Television TV Channels Regional
Star Sports announces a blockbuster line-up of renowned cricket commentators for Karnataka Premier League (KPL) 2018

Showcasing a blockbuster line-up of 12 renowned cricket experts, Star Sports announced the commentary panel for KPL 2018 which began on 15th August 2018. For the first time ever, Australia’s bowling legend Mitchell Johnson donned the commentator hat.

Television TV Channels Sports
Facebook to sub-licence La Liga to broadcaster: Report

Social media giant Facebook took several industry pundits by surprise when it acquired the India sub-continent rights for La Liga's 380 league matches for the new season, which commenced on Friday. It is now being reported that the league's broadcast in India will not just be limited to the social...

Television TV Channels Sports
Moneycontrol collaborates with Thomson Reuters to offer StockReports to its customers

Moneycontrol, India’s leading financial and business digital platform, has collaborated with Financial and Risk business of Thomson Reuters to offer StockReports on its platform. StockReports powered by Thomson Reuters, is updated every day to facilitate unbiased comprehensive analysis of stocks,...

Television TV Channels News Broadcasting Announces iReel Awards 2018 - The One of Its Kind Web Series Awards in India, one of India’s leading breaking news websites with over 100 million unique visitors announces iReel Awards 2018, web series specific awards in India.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories