UK''s The Daily Mail to launch Indian daily with India Today

Daily Mail & General Trust, the publisher of The Daily Mail has signed a collaboration agreement through its subsidiary, Associated Newspapers, with India Today group to launch a daily morning newspaper " the sub continent.

In addition to the fortnightly India Today, the India Today Group is the Indian publisher of Cosmopolitan and Reader's Digest.

The Daily Mail & General Trust will hold a 26-per cent stake in the joint venture, the financial details of which have not been disclosed. According to reports, if the daily newspaper venture succeeds, the JV company would consider launching more titles.

In a study last year, PriceWaterhouseCoopers said the $9-billion Indian media and entertainment market was estimated to grow to $19 billion by 2010.