Published on Tue, Oct 03, 2006 at 20:43 | Source : Moneycontrol.com
Updated at Wed, Oct 04, 2006 at 10:30
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TOI, HT to set up 50:50 joint venture
Forget print wars making headlines. Let's talk of making peace! Two media giants will set up a 50:50 joint venture to start a Delhi tabloid, reports CNBC-TV18.
Price wars, battles for the advertising pie and a bitter fight for eyeballs has not stopped arch rivals the Times of India and the Hindustan Times from forging a mutually beneficial partnership. In a move that could well set a precedent for the competitive newspaper business, HT media and TOI will join hands to publish a morning tabloid on the lines of Mumbai Mirror.
For now a Statement of Intent or an MoU has been signed between the two. However, both parties have refused to part with details. But CNBC-TV18 understands that a printing and non-poaching arrangement has been agreed on.
This will rule out a Delhi edition of TOI's Mumbai Mirror. This marriage will result in a 'compact' daily morning paper for Delhi, likely to titled 'Delhi Post' or 'The Metropolis'.
This is likely to hit the market before DNA launches in Delhi. With the tabloid expertise of the Times of India and the publishing infrastructure of HT, this compact paper will also be able to leverage the distribution network of the two media giants.
For now a Statement of Intent or an MoU has been signed between the two. However, both parties have refused to part with details. But CNBC-TV18 understands that a printing and non-poaching arrangement has been agreed on.
