Financial Daily from THE HINDU group of publications
Thursday, Dec 15, 2005
Financial Daily from THE HINDU group of publications Thursday, Dec 15, 2005 |
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Marketing
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Strategy Corporate - Alliances & Joint Ventures Infomedia in jt venture with US publisher Reed Our Bureau
Mr Prakash Iyer, Managing Director, Infomedia India Ltd, and Mr James Casella, Vice-Chairman, Reed Business Information, at a press conference in Mumbai. — Shashi Ashiwal
Mumbai , Dec. 14 SPECIAL interest and directory publishing company, Infomedia India Ltd, has announced a joint venture with Reed Business Information US, a division of the $8.5-billion Reed Elsevier Group plc. The American publisher would hold 51 per cent equity in the joint venture, with Infomedia holding the balance. The proposed investment is Rs 3 crore. Variety, the well-known magazine on the film industry, has been cited as a potential title for introduction here under the joint venture. In all, 12 titles are planned for the Indian market over the next three years. "We do hope that Variety would be one of those publications,'' Mr James Casella, Vice-Chairman, Reed Business, said at a press briefing. Other prominent titles from the Reed Business portfolio include, JCK, Control Engineering and Logistics Management. The joint venture would license the titles from Reed Business to bring them to India. "We are delighted to be Reed's publishing partners in India. With Infomedia's local industry insights and Reed's global expertise, we are hoping to provide Indian business with high-quality content in magazines that become mandatory reading,'' Mr Prakash Iyer, Managing Director, Infomedia, said. According to Mr Casella, who also oversees the development of BRIC markets (Brazil, Russia, India and China), Reed Business is looking at these regions from both a product selling and outsourcing perspective. Eighteen months ago, Reed had set up a joint venture, similar to the one with Infomedia, in China. Asked if Infomedia's location in what was also an English speaking market, added to the joint venture's growth potential, he said, he expected related businesses like the online ones, to come in. "It is very possible that the other divisions of Reed may expand in India. But that would be their own decision,'' Mr Casella said. While Reed Business is the B2B division of Reed Elsevier, the latter publishes additionally in areas such as science, legal, medical and education. The new joint venture, Reed Infomedia India Pvt Ltd, need not be restricted in sales to the Indian market, Mr Casella said.
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