HT and TOI join hands to launch a new paper

Who are they scared of? The Hindustan Times (HT) and The Times of India (TOI) both with a sale of over a million copies have decided to join hands and bring out a paper in which both HT Media Limited and Bennett and Coleman would have equal stake.

The news of the Joint Venture between the traditional rivals has come as a surprise. Are they wary of a foreign paper (Independent and Jagran joining hands for a daily in India) or the proposed paper by India Today Group in Delhi or DNA's Delhi launch.

Or is it that the rivals just don't want any fresh competition and planning to monopolise the news market by propping up a No.3 paper in Delhi. HT and TOI tried the same trick in Mumbai but still DNA managed to emerge as the second biggest paper and is getting strong.

Both the papers (HT and TOI) carry the similar press release kind of news about the Joint Venture.
Read it.