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The Globalization of Magazines in India: A case study
Unformatted Document Text:  14 For Hearst, which currently has more than five titles in India licensing has been the preferred mode of operating in India. For most of its titles, it has partnered with the Living Media Group India‘s largest magazine publishing company which has a well-established distribution network in place. Choosing the right partner to license titles is important for both the international publisher and the domestic publisher. For Hearst International the value of the local partner is that it can decide on the ‗local flavor‘ for the editorial content which would not be possible from an overseas location. At the same time licensing means the local company has the expertise to navigate the red tape without the expense of investing in a local management structure (Rathore, 2010) and can speed up entry in a new market (Johnson 2007). It also allows a firm to participate in a market without committing to investing significant equity (Doyle, 2006). The relaxation of regulation and the influx of foreign players have made the licensing process less cumbersome. Hearst International found that the licensing process was much easier for Harper’s Bazaar, which was launched in 2009 compared to what they had to deal with when Cosmopolitan was launched in 1996. Under the agreement the Indian publisher, Living Media was allowed the use of the name Cosmopolitan and editorial material in exchange for 10% net revenues from circulation and advertising. Although Hearst had not equity in play maintaining the brand and ensuring the profitability of the edition was very important to the publisher (Rosenthal et al., 2008). While joint ventures have not been the preferred form of market entry, BBC Magazines bucked this trend when they formed Worldwide media with the Times of

Authors: Shrikhande, Seema.
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14 
 
For Hearst, which currently has more than five titles in India licensing has been 
the preferred mode of operating in India.  For most of its titles, it has partnered with 
the Living Media Group India‘s largest magazine publishing company which has a 
well-established distribution network in place.  Choosing the right partner to license 
titles is important for both the international publisher and the domestic publisher.  For 
Hearst International the value of the local partner is that it can decide on the ‗local 
flavor‘ for the editorial content which would not be possible from an overseas location. 
At the same time licensing means the local company has the expertise to navigate the 
red tape without the expense of investing in a local management structure (Rathore, 
2010)  and can speed up entry in a new market (Johnson 2007). It also allows a firm to 
participate in a   market without committing to investing significant equity (Doyle, 
2006). 
The relaxation of regulation and the influx of foreign players have made the 
licensing process less cumbersome.  Hearst International found that the licensing 
process was much easier for Harper’s Bazaar, which was launched in 2009 compared to 
what they had to deal with when Cosmopolitan was launched in 1996.  Under the 
agreement the Indian publisher, Living Media was allowed the use of the name 
Cosmopolitan and editorial material in exchange for 10% net revenues from 
circulation and advertising. Although Hearst had not equity in play maintaining the 
brand and ensuring the profitability of the edition was very important to the publisher 
(Rosenthal et al., 2008). 
While joint ventures have not been the preferred form of market entry, BBC 
Magazines bucked this trend when they formed Worldwide media with the Times of 


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