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Tuesday, Apr 26, 2005

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Reuters to pick up 26% stake in Times Group's news channel

Our Bureau

Mumbai , April 25

REUTERS Ltd has decided to acquire 26 per cent equity stake in The Times Global Broadcasting Co Ltd, the news broadcasting company of The Times of India Group. The Group declined from giving details of the valuation of deal.

Reuters is expected to supply branded programming to the news channel, slated to be launched by the Times of India Group later this year. The news channel will be initially in English and will operate from Mumbai and Delhi. The channel will include Reuters branded programming. from across the world. Reuters established its first news bureau in India in 1866 and today has five bureaus in key cities across the country. Its financial information and news business employs 821 people in India.

The agreement is subject to regulatory approvals and contract.

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