Reuters-BCCL Partnership Headed For A Split?
By Nikhil Pahwa - Wed 23 Jan 2008 07:52 AM PST
Well, the rumour has been around for a while now - I first heard about it in December, but was unable to confirm it; “Why break off a successful partnership?” I was told. Now Mint reports, quoting sources, that after CEO Sunil Lulla’s exit from Times Now, the Reuters-BCCL joint venture may be headed for a split. Currently, Reuters (NSDQ: RTRSY) holds 25.82 percent stake in the venture, and the company may be looking at a tie-up with UTV. A Reuters executive has told Mint that they may end some old relationships, and enter into new ones. The two year old relationship between BCCL and Reuters also involves a content deal which Mint says may not end immediately. In the larger scheme of things, this could also mean that Reuters intends to take a direct to consumer route; they’ve already done that with their news website. But nothing announced yet, so watch this space.
Posted in: Companies, Reuters, Times Group (BCCL), JV & Investment
