Saturday, November 11, 2006

Fortune to have an Indian edition soon

Good news for all business buffs. Business Stnadard reports that Time Warner owned Fortune magazine will most likely be published in India soon. Fortune already has editions in Europe and Asia, including one published in Chinese. In the US, readership of the print edition has not really been increasing although the online version is showing growth. In Asia, the print edition is likely to be the dominant edition.
“We are in talks with two-three Indian publishers. India is one of the fastest growing economies in the world and has a large English-speaking population,” a senior executive working with the magazine told Business Standard. He, however, declined to comment on the timeframe for such a venture.

While the executive ruled out any possibility of a licensee agreement with the local publisher due to stringent regulatory norms, he said there were expectations that the government would liberalise the norms for increasing foreign direct investment in publication.

“We are open for a joint venture or may provide 20 per cent of the content or go for a royalty over content to be provided for the Indian edition,” the executive said, adding that the magazine was also in talks with the publishers in Korea and Japan for local editions there.

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