Jaitley warns print media of price war, monopoly

Jaitley warns print media of price war, monopoly
UNITED NEWS OF INDIA

BANGALORE, SEPT 15: Union information and broadcasting Minister Arun Jaitley today cautioned the newspaper industry to be wary of a price war which could lead to elimination of small players and create a monopolistic situation.

Speaking after inaugurating "future forward", the Indian Newspaper Society Convention 2000 on "reinventing the print medium in the new economy", he said newspapers were not like any other business. It had a deep influence on the human mind and played a vital role in spreading knowledge. Monopoly in the industry should be avoided.

Ruling out any state intervention if a price war broke out, he said it was for the industry to find a solution for itself.

He said the newspaper industry was the most liberalised sector in the country without any control. Stating that the regional newspapers contained certain aberrations in the name of competition. Editors of such newspapers have a responsible role to play to eliminate such small differences.

Jaitley, referring to the convergence of technology and mushrooming internet news providers, said the print media would continue to play a major role in providing news content. The industry had a major role to play in ensuring that convergence of technology was utilised so that its full benefit could be passed on to the society.