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Govt Approvals For Tikona, Spectator, VenturEast, BGC SmartCard, Eros; PowerMax, ZEEL, Unitech Deferred

Foreign investment continues to flood Broadcasting, Information & Technology, Telecom and Media sectors and the government has approved six proposals and deferred three more as suggested by the Foreign Investment Promotion Board. European publisher of specialty magazines, periodicals and journals, Gruner + Jahr International Magazines, has received approval to enter the country. It will invest Rs. 0.01 crores in setting up a wholly owned subsidiary here. Gruner+Jahr is part of the Bertelsmann Group, owner of erstwhile music company BMG which became Sony BMG Music Entertainment after Sony Corporation bought 50% shares in it. Bertelsmann AG owns 74.9% of Gruner + Jahr, while the remaining 25.1% is owned by Hamburg family Jahr. G+J publishes over 300 magazines including GEO, National Geographic, NG Traveler, Sensa, CHIP, PC Guru, Glamour and Gala. G+J sells 40,000 copies of its flagship magazine GEO in India.…

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