Online news outlets flouting 26% FDI in digital media

With the Union Cabinet approving 26 per cent foreign direct investment (FDI) in digital media with government approval, IANS has learnt that there are certain digital news platforms in India which are already flouting this cap.

For example, Bengaluru-based subscription-driven digital publication The Ken has already raised more than 26 per cent FDI.

According to the information available on The Ken portal, it has the “support of an enviable set of angel investors, which allows us the leeway to plan for the longer term.”

The subscription-based news platform raised $1.5 million in fresh funding last year to build out its media business.