28th Mar 2007 14:57
28th March 2007 Daily Mail and General Trust plc (`DMGT') Associated Newspapers enters partnership with India Today
Associated Newspapers, the national newspaper division of DMGT, announces that it has entered into a partnership with the India Today Group (ITG) to publish "mainstream" English language newspapers in India. This partnership, as well as including the purchase of an equity share within India's current media laws, will involve an exchange of experience, ideas, talent and where appropriate content. The financial commitment and timing of the investment are yet to be clarified, but will not be material in Group terms. The creation of the partnership is subject to certain Indian regulatory approvals.
ITG is one of India's most successful magazine publishers, with a nationwide presence in the market. Its other businesses include four 24-hour television news channels and the largest commercial press in India.
The partnership brings together ITG's knowledge of Indian media and Associated's knowledge of newspaper publishing in a rapidly growing newspaper market.
Enquiries:
Peter Williams, Finance Director, DMGT: 020-7938-6631
Kevin Beatty, Managing Director, Associated Newspapers: 020-7938-7514
Andrew Honnor, Tulchan Communications: 020-7353-4200
Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594
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