Reuters picks up 26% in Times TV news arm.
Economic Times (New Delhi, India), April, 2005
Apr. 26--NEW DELHI -- Goliath meets Goliath. You can call it the coming together of two media superbrands to create a news and current affairs powerhouse. South Asia's largest media conglomerate, the Times Group, and the world's largest multimedia news agency, Reuters, are set to launch a television news channel in India later this year.
The two bluest-of-the-blue chips in the media industry are entering into a joint venture, with Reuters acquiring a 26 percent equity stake in Times Global Broadcasting, the news broadcasting arm of the Times Group. The term-sheet was signed in London on April 21, '05, after the two sides held several rounds of talks spanning continents -- in Mumbai, London and New York.
"We have built our heritage and standing with...
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