Times Group enters JV with BBC; plans niche magazines

It's been a topic that has elicited a fair amount of discussion in publishing circles for a while now, but the Times Group had been characteristically tightlipped about it. Now, finally, the Indian media conglomerate has officially announced its 50:50 JV partnership with electronic media giant British Broadcasting Corporation (BBC), which has a considerable stake in the publishing business as well. Speaking at a press conference organized to announce the joint venture in Mumbai yesterday, Peter Phippen, managing director, BBC Worldwide Ltd, said, "We already have a long-established track record in India, but we have been looking forward to an entry into the publishing market in the country." He further added, "The Times Group provided us with this opportunity, and we fast reacted to it."

Following the JV agreement, all the 31 titles of the Times' magazine business would come under the JV group. When asked about the Group's properties and associated events such as the Femina Miss India Contest and the Filmfare Awards, Vineet Jain, managing director, Bennett, Coleman & Co Ltd, said, "The Miss India Contest event would be organized by the Times Group, but the licensing would be approved by the JV group."

Incidentally, the Times Group had been scouting for a JV partner for a year now, and finally zeroed in on BBC. BBC specializes in niche magazines in the UK market, and has some 50-odd titles - the better-known ones include Radio Times (a television entertainment magazine), Motoring and Top Gear - that cater to niche interests such as gardening, food, kids and teens. Although, the Times Group isn't disclosing much information on the JV, it can be assumed that the experience and expertise of its new partner would be put to full use in the Indian market.

When quizzed on this, Arun Arora, president, Bennett, Coleman & Co Ltd, confirmed that the group would shortly be coming up with niche magazines, but the specifics pertaining to subjects and areas of interest are still to be finalized. He added that a decision on this would be taken only after extensive research. Talking about the estimated timeframe for the JV group to come up with a new title, Arora said, "We are also waiting for the Government's approval, and if everything is in place, hopefully, we will come with a new publication in the next six months."

Interestingly, with the Times Group all set to essay into the electronic media, the fact that its new JV partner has invaluable expertise in the medium suggests that BBC could also be called upon to provide assistance to Times in its television foray. When asked to comment on this, Arora did not rule out such a possibility. © 2004 agencyfaqs!