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FIPB clears proposal to launch magazines

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Ashish Sinha New Delhi

Reed Infomedia India, a joint venture between Infomedia 18 and Reed Business Information, a division of Reed Elsevier, has got approval from the Foreign Investment Promotion Board (FIPB) to publish Indian editions of six more foreign magazines (it already publishes six) on subjects like technology, hospitality, interior design and money management, among others.

Reed Elsevier is a leading European media company that publishes scientific, technical and other niche publications. Reed Business Information holds 51 per cent in Reed Infomedia India, while Infomedia 18, a Network 18 venture, holds the rest.

However, there will not be any inflow of foreign investment, the company has told the FIPB. The FIPB nod is significant, because there have been talks of the company discontinuing operations due to Reed Business Information exiting the venture.

 

A senior executive of Infomedia 18 said: “The fact that Reed Infomedia has got the nod to launch Indian editions of more international magazines goes to show that the joint venture may very well be active.”

The foreign titles that Reed Infomedia will bring into India include New Scientist, Hotels, Interior Design, Money Management and Building Design+Construction. Reed Infomedia is at present publishing Indian editions of six other foreign titles, including Control Engineering, JCK (Jewellers Circular), Logistics Management, Twice, Flight International and Variety.

Recently, Reed Elsevier Overseas got the FIPB nod for publishing some technical journals in India through its wholly-owned subsidiary, Reed Elsevier India. The permission sought was for publishing Madras Law Journal, Labour Law Journal and Madras Criminal Law Journal.

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First Published: Mar 18 2009 | 12:54 AM IST

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