Forbes, America’s third biggest business magazine after BusinessWeek and Fortune, is going to make an Indian entry in early 2008. And since only 26% FDI is permitted in print media in India, it has chosen Television18 as its Indian partner.
Forbes Media is primarily famous for bringing out its list of the best among various fields – like richest people, best hotels among others. To see a complete list of Forbes Lists’, click here.
Forbes would bring in its strong professional expertise and quality world-class offerings. And coupled it with TV18′s strong Indian business media experience and cross media synergies would create a product which could cater to a wider audience.
It would further strengthen TV18′s position in India’s media sector and provide impetus to its business portfolio.
Another striking feature of the deal is the fact that the announcement has come just day after TV18′s acquisition of Infomedia, thus fuelling the speculation that Network18 group first wanted to have the back-end infrastructure ready before making the deal public.
For Forbes, it would mean an entry to India’s lucrative market and complement its international presence through Forbes Asia, Forbes China/ Russia/ Arabia among others.
This would mark the entry of second major business magazine into India after the deal between Time Warner’s Fortune magazine and ABP group (publisher of Business World India).