New Delhi: The ministry of information and broadcasting on Wednesday gave the approval for the publication of facsimilie edition of The Wall Street Journal and The Wall Street Journal Asia, in India.
The two newspapers will be published by Wall Street Journal India Publishing Pvt Ltd, a fully-owned subsidiary of the US-based Dow Jones and Company Inc. The company recently got the permision for a foreign direct investment of Rs2.16 crore to launch the facsimilie editions. This is the first time a foreign news and current affairs publisher has been allowed to launch a facsimilie edition on its own.
The government, in January this year, had allowed up to 100% FDI in the facsimilie editions of international newspapers provided the foreign investment in the Indian subsidiary, which would launch the edition, was made by the owner of the original foreign newspaper. Wall Street Journal has an exclusive content tie up with Mint, which is published by HT Media Ltd. At the time of the filing its application for the facsimilie edition, Bill Casey, vice-president, international, WSJhad said the proposal “has absolutely no effect on our content partnership with Mint”.