So Hindustan Times has finally announced its decision to launch its pink paper. The appointment of Raju Narisetti as editor of the paper was announced recently. Narisetti, around 40 years old was editor of Wall Street Journal.
For several years HT wanted a business daily to compete the TOI that has a superbrand like ET. Though many business papers are available in the market there is surely a space for another quality pink paper. Business Line is confined to certain areas, Business Standard has a section of devoted readers and Financial Express is near-dead. The DNA's biz daily hasn't shown any potential.
Clearly, the two giant bania media groups HT and TOI group are going to eat the small fries and share the profits amongst themselves in near future. Meanwhile, the market for biz magazines is hotting up. Many magazines are coming up and seems that every magazine is getting a foothold. Good for journos.