News and information provider Reuters Group Plc unveiled a broadcasting partnership with the Times of India on Monday as part of a drive to build up its consumer media business. Reuters said in a statement it would take a 26 percent stake in The Times Global Broadcasting Co Ltd, a unit of the Indian media group, which is launching a news channel later this year. Financial terms of the deal were not disclosed.
The launch of a news channel marks the first move by the Times of India, the country's biggest media company, into news broadcasting. The news channel's revenues would come from subscriptions and advertising, Reuters said.
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