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Our Bureau

New Delhi, Feb. 11 The Ministry of Information and Broadcasting has given its approval to the facsimile edition of The Wall Street Journal and The Wall Street Journal Asia.

The newspapers will be brought out by Wall Street Journal India Publishing Pvt Ltd, a wholly owned subsidiary of Dow Jones and Company, US, which publishes the financial paper. Last month the Foreign Investment Promotion Board approved foreign direct investment of Rs 2.16 crore by Dow Jones & Co Inc in setting up the wholly owned subsidiary.

A facsimile edition is an exact replica of an international edition that meets certain conditions and cannot carry separate advertisements aimed at Indian readers or locally generated content or India-specific content, not published in the original edition of the foreign newspaper.

FDI is allowed only up to 26 per cent in print media. News Corp which owns Dow Jones, and the Star Network in India, is believed to be interested in the print market, but wants the current cap raised. Wall Street Journal also has a content sharing agreement with HT Media, under which its stories are carried in the business daily Mint.

More Stories on : Newspapers & Publishing | Policy | Foreign Direct Investment

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