WSJ Publications gets FIPB nod to change foreign collaborator

NEW DELHI: DB Corp Ltd has been permitted to increase the foreign equity participation from 20 per cent to carry out the business of publication of newspapers including the business of developing, editing, publishing, printing, distributing and marketing newspapers and other publications and FM radio business.

The Foreign Investments Promotion Board (FIPB) has not quantified the inflow of foreign direct investment.

The Ministry has also permitted Wall Street Journal Publishing to make a change in the foreign collaborator by way of overseas merger within group companies.

The company is engaged in the business of facsimile editions of newspapers in India. This will not entail any fresh FDI inflow.