Network 18, Financial Times to launch English pink daily

Network 18 is believed to be in talks with Pearson Plc’s Financial Times to launch an English financial daily in India.Network 18 has for long eyed the English pink daily space. While negotiations were on for some time with Business Standard to buy a stake in the paper, it is believed that disagreements over valuations had led to the deal being discarded. Haresh Chawla, Group CEO, Network 18 did not respond to email to confirm or deny the report. Although media reports have speculated that Times of India’s editor Jaideep Bose is set to join the new venture, Bose has denied the reports. Sources close to the development say that Bose is caught in a tug of war between Network 18, which is attempting to hire him, and The Times of India, which is trying to persuade Bose to stay.  It may be noted, though, that similar rumours about Bose’s exit had made the rounds when the English daily DNA was about to be launched a few years back.