News Corporation (NASDAQ:NWSA) has announced that it will partner with Time, Inc., Hearst, Conde Nast and Meredith to launch a paid content venture. The venture will create a digital storefront for a variety of magazines and newspapers. The venture will be led by John Squires of Time, Inc.
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A diversified Media company, New Company operates in eight industry segments, Filmed Entertainment, Television, Cable Network Programming, Direct Broadcast Satellite Television, Magazines and Inserts, Newspapers and Information Services, Book Publishing and Other. The company acquired the minority share of the Jamba joint venture in October 2008. The acquisition gave the company 100% interest in the venture.
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