TV18, Forbes to launch biz magazine by early '08

TV18, a group company of Network 18, India’s leading media conglomerate, is all set to launch a business magazine in India in partnership with Forbes Media, one of the world’s most respected business publishers. The partnership will include a content licensing arrangement and will also envisage introduction of other Forbes products, subject to regulatory approval.

This partnership further enhances and complements TV18’s strong business offerings in the television and internet space. Currently, TV18 operates India’s leading business channels CNBC-TV18 and CNBC Awaaz, besides Newswire18 and a host of web properties like moneycontrol.com. The partnership with Forbes will bring in strengths in the print space and will synergize well with its television and new media properties. It will also complement TV18’s recent acquisition of Infomedia, which is India’s leading player in the publishing space with several magazines and runs one of India’s largest printing operations.

Forbes magazine itself is a legendary business brand celebrating 90 years of existence this year. It enjoys a loyal following amongst a 5-million strong global audience, comprising of business leaders, entrepreneurs, corporate executives and upwardly mobile professionals. In recent years, Forbes magazine has increased its international presence with highly successful titles such as ‘Forbes Asia’ and licensed local language editions such as ‘Forbes China’, ‘Forbes Russia’ ‘Forbes Arabia’ amongst others. Forbes magazine is renowned for its wide array of business content ranging from leadership, finance & international business to marketing, technology & entrepreneurship. It has also diversified into being a globally accepted benchmark for quality & performance with its famous lists covering companies, people & places, education, personal finance, sports, lifestyle & technology, apart from special reports.

Raghav Bahl, MD, Network18 said, “Our partnership with Forbes for a business magazine in India is another compelling testimony to the growing acceptance of the Indian growth story worldwide. Rapid economic expansion, change in consumer mindsets and deepening of the market economy in the country have led to an enabling environment for business brands. We will be strongly positioned to deliver a benchmark offering in the market by fusing the strong editorial and brand lineage of Forbes and our proven expertise in the Indian business media market”

Said Steve Forbes, Chairman, CEO and Editor-in-Chief, Forbes, “India is one of the prime markets Forbes has wanted to enter for sometime. We were waiting for the right partner and are so pleased that we have reached a partnership agreement with Network18, one of the most respected and fastest-growing media companies in India.  We look forward to making Forbes available to this forceful market soon.”

 “Forbes is an ideal partner for us, as we expand our competencies into the print medium and thus strengthen our position as one of India’s leading full play media conglomerates. India’s readership potential is yet to be fully tapped. As the market evolves, credible and strong brands will succeed in the print space. With our experience in business media as well also our ability to deploy global media brands successfully in the Indian market, we are confident of an enriching association with Forbes. We see a lot of opportunity for value creation in this partnership by unleashing cross platform synergies and developing a roster of market leading offerings in the coming years. The addition of Forbes will further energize our business portfolio, which already commands leadership through CNBC-TV18 and CNBC AWAAZ, Newswire18 and web offerings such as moneycontrol.com and indiaearnings.com” added Haresh Chawla, Group CEO, Network18.

"As the world's foremost champion of entrepreneurial capitalism, we at Forbes are excited to partner with the accomplished media entrepreneurs at Network18 to bring the Forbes brand and style of journalism to India - home of many of the world’s greatest entrepreneurs," said Haresh Chawla. “This partnership in India complements and builds upon our existing Pan-Asian network of Forbes Asia, Forbes China, Forbes Korea and Forbes Nihonban,” he commented. 

Sourced From: Television Eighteen

Disclaimer:
Web18, which owns Moneycontrol.com and Indiaearnings.com, belongs to the Network 18 Group).