Dow Jones allowed to publish facsimile editionsJanuary 28th, 2009 - 7:23 pm ICT by IANS
New Delhi, Jan 28 (IANS) A proposal from Dow Jones to publish facsimile editions of its newspapers and magazines like The Wall Street Journal and the Far Eastern Economic Review, are among 30 others approved by the government, an official statement said Wednesday.The proposals approved include those from Morgan Stanley, CMS Computers and Bridgestone and are collectively expected to bring in foreign exchange worth Rs.12.78 billion (Rs. 1,277.23 crore), the statement added.
At the same time, the government deferred decision on 17 proposals, rejected four others while referring three, all from the telecom sector, to the Cabinet Committee on Economic Affairs.
Barely a week ago, the government had paved the way for facsimile editions of leading global media by formally notifying its decision to allow 100 percent foreign equity for publishers interested in publishing international dailies in India.
In the case of facsimile editions of foreign newspapers, 100 percent foreign equity was permitted with prior approval of the government - provided the investment is by the original foreign publisher, the commerce ministry said in a statement.
“The policy also specifies that the publication can be undertaken only by an entity incorporated or registered in India under the provisions of the Companies Act, 1956,” an official statement had said.