The Times group forges unusual alliances

The Times group forges unusual alliances with companies which serve the interests of everybody - except those of readers and consumers. Sucheta Dalal throws new light on this unique "business strategy"

If you are an investor who depends on India's largest-selling economic newspaper for unbiased news, then you must know and understand the concept of "private treaties" (PT). Since the Times of India (TOI) far outsells every other English newspaper and The Economic Times is by far the market leader in the economic news category, the concept is of universal interest, especially for MoneyLIFE readers. Although PTs sound like agreements between two sovereign nations, they are, in fact, pacts between the Times of India group and approximately 100-odd companies, under which TOI buys shares of small and fast-growing companies. The list is expanding rapidly.

In an article for India-Seminar on 'The changing Indian media scene', TN Ninan, editor of Business Standard, described PTs as "basically the transfer of ...

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