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Indian Publishers Shop For Foreign Media

The New York Times, Wednesday, June 4, 2008 10:30 AM

The conglomerate that owns the world's largest-circulation English newspaper, the Times of India, is making its first foreign acquisition. The Indian company is buying Scottish-owned Virgin Radio Holdings for $105 million in a move that experts say could be sign of the future.

Traditional media companies in the U.S., Europe and Japan are struggling, but healthy newspaper, TV and radio companies in emerging markets are eager to expand with foreign acquisitions.

"The opportunity to acquire a valuable radio asset couldn't have come at a better time," says A. P. Parigi, chief of Times Infotainment Media, which made the deal with Virgin Radio. Times Infotainment handles experimental marketing, film and radio rights, and is interested in increasing radio listenership through online and mobile channels.

Read the whole story at The New York Times »

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