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The RP-Sanjiv Goenka Group has entered into an agreement with Fortune Media Group — publishers of Fortune Magazine — to publish Fortune in India, it said in a media release.
Founded in 1929 and first published in February 1930, Fortune’s India edition was first published in 2010.
The $4-billion RP-Sanjiv Goenka Group has interests in power, carbon black, IT-enabled services, consumer goods and retail, media and entertainment, sports, education and infrastructure and plantations. It also owns the Open magazine.
According to Sanjiv Goenka, Chairman RPSG Group, when the government is determined to make next-gen reforms happen and further unleash India’s economic potential, Fortune India will be a great addition to the RPSG Group stable of power-brands.
“We have ambitious plans for Fortune India, ” he said.
Fortune Media Group CEO Alan Murray said the brand had found a great home in the RPSG Group and that it is the “coming together” of two great institutions.
“India is a key market for us and we are confident that under RPSG, Fortune India will reach even greater heights,” Murray added.
Sources in the RPSG Group say it is eyeing more acquisitions in the media space.
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