’TIMES NOW’, India’s New 24-hour News Channel
Times Group and Reuters new TV channel targets India’s growing urban audience
30 January 2006 Mumbai – Times Global Broadcasting Co. Ltd. today announces that TIMES NOW, the new 24-hour news and current affairs TV channel for India, will launch tomorrow, Jan. 31. The English-language channel is in collaboration with The Times of India Group, publisher of the largest English language newspaper in the world, and Reuters, the world’s largest international multimedia news agency.
With the tagline, ‘Feel The News’, TIMES NOW targets a distinct audience of Indian ‘urbanites’, the rapidly growing group of information-hungry, media literate and trend-sensitive consumers. Operating from dual centres in Mumbai and Delhi and supported 14 bureaux throughout India and Reuters global news operations, TIMES NOW reflects the media tastes of this emerging audience through programming focussed on business, current affairs and urban trends.
The new channel is set to take advantage of the huge growth in India’s cable TV market; now the world’s third largest with 61 million subscribers and growing.
TIMES NOW focuses on key stories from within India as well as international news coverage tailored to the local urban audience. The channel harnesses the content of two major Indian news outlets, The Times of India and The Economic Times, and leverages Reuters global news and financial information gathering capabilities.
TIMES NOW’s distinctive content includes the Reuters World Report, co-anchored from Reuters newsroom in London and the TIMES NOW studio in Mumbai. The channel will also carry live financial updates throughout the day from Reuters bureaux around the world, including Hong Kong, London and New York, as well as crossing live to hear from Reuters journalists on global breaking news – features unique to TIMES NOW in the Indian broadcast market.
Arun Arora, President, The Times of India Group, comments: “TIMES NOW is a unique offering the two most sought-after and like-minded brands in the global media map – The Times Group & Reuters. Both media houses have an exceptional heritage and are respected the world over. While the Times of India has access to local news and is well known amongst readers, newsmakers and advertisers, Reuters is a global brand and the world’s largest international multi-media news agency, famous for unparalleled news gathering capabilities in over 130 countries. This is what gives TIMES NOW the local authenticity and global credibility which is relevant yet seamless to the consumer.”
Chris Ahearn, President, Reuters Media, said: “TIMES NOW embodies Reuters aspiration to make a high impact entry into India’s growing multi-channel news market. With the increasing importance of world news to India’s growing urban audience, Reuters will provide the best of international, business and finance news on TIMES NOW, with a focus on what’s most relevant to urban viewers in India. Reuters is committing unique access to our journalists globally, and is co-hosting Reuters World Report from London and Mumbai to provide an international perspective on the day’s news.”
Sunil Lulla, CEO Times Global Broadcasting Co. Ltd. said: “TIMES NOW will create the second generation of television news in the broadcast space. With a focus on involving the consumer more closely in the news experience, the programming wheel blends the urgent news needs of the urbanite. It links every news story to the bigger picture. We believe news is an experience and TIMES NOW will make India ‘Feel The News.”
As previously announced, it is intended that Reuters will take an approximate 26% interest in Times Global Broadcasting Co. Ltd. subject to regulatory approvals.
Notes to Editors
* Reuters established its first news bureau in India in 1866 and today has five bureaux in key cities across the country. Its news and financial information business employs over 1200 people in India.
* The Times of India Group publishes the largest English language broadsheet newspaper in the world. It has interests in magazines, radio, music, the internet and retail. Its website www.indiatimes.com is the largest in India, and the largest mobile value added services provider in the country.
Reuters (www.reuters.com), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Its trusted information drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 15,300 staff in 91 countries, including staff from the acquisition of Moneyline Telerate (MLT) in June 2005. It also includes 2,300 editorial staff in 196 bureaux serving 129 countries, making Reuters the world’s largest international multimedia news agency. In the 2004 Annual Report and Form 20-F, Reuters Group revenues were £2.9 billion.
Reuters and the sphere logo are the trade-marks of the Reuters group of companies.
This release includes certain forward-looking statements relating to Reuters within the meaning of the US Private Securities Litigation Reform Act of 1995. Certain important factors that could cause actual results to differ materially from those disclosed in such forward-looking statements are described in Reuters Annual Report and Form 20-F 2004 under the heading “Risk Factors” and in Reuters interim results press release included in its Report on Form 6-K dated 27 July 2005. Copies of the Annual Report and Form 20-F and Form 6-K are available on request from Reuters Group PLC, South Colonnade, Canary Wharf, London E14 5EP. Any forward-looking statements made by or on behalf of Reuters speak only as of the date they are made, and Reuters does not undertake to update any forward-looking statements.
About TIMES NOW
TIMES NOW, a Times Group & Reuters Service, is an urban, 24-hour English news channel. Focused at the Urbanite, TIMES NOW recognizes the varied television viewing habits across day parts and delivers news in relevant and distinctive formats at different times of the day. TIMES NOW weekend shows feature leading personalities from the field of theatre, business, defence and entertainment. The channel builds consumer associations through its various touch points - www.timesnow.tv, mobile and interactive voice response system.
TIMES NOW, [a Times Group & Reuters Service], brought to you by Times Global Broadcasting Co. Ltd. is based in Mumbai with studios in Mumbai and Delhi and bureaux across the nation.
About The Times of India Group
The Times Group is the largest media conglomerate in South Asia, with leadership in newspaper publishing; magazines; music; retailing; FM Radio; Internet; Interactive media; mobile services and lifestyle television
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