Television Eighteen group to launch business journal in association with Forbes
13 December 2007
Network18 group company, Television Eighteen India Ltd, plans to launch a business magazine in India in partnership with Forbes Media, publishers of Forbes. The partnership will include a content licensing arrangement and will also envisage introduction of other Forbes products, subject to regulatory approval.
Currently, TV18 operates leading Indian business channels CNBC-TV18 and CNBC Awaaz, besides Newswire18 and a host of web properties like moneycontrol.com. The partnership with Forbes will synergize with its television and new media properties. It will also complement TV18's recent acquisition of magazine publisher Infomedia that runs one of India's largest printing operations.
Forbes magazine itself is a legendary business brand celebrating 90 years of existence this year.
In recent years, Forbes magazine has increased its global footprint with successful titles such as Forbes Asia and licensed local language editions such as Forbes China, Forbes Russia, Forbes Arabia amongst others.
"Our partnership with Forbes for a business magazine in India is another compelling testimony to the growing acceptance of the Indian growth story worldwide," said Raghav Bahl, MD, Network18. "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."