Indonesian billionaire takes on the Jakarta Post

JAKARTA — That it is probably the worst time in history to start a daily newspaper is not, at least for the moment, on the minds of the people behind The Jakarta Globe.

The Globe, an English-language paper that hit the newsstands in November, is an unusual sight in this era of the shrinking - or disappearing - newspaper: It is a 48-page broadsheet, big enough to cover your desk when unfolded and painted head to toe in color.

The paper is backed by the billionaire James Riady, deputy chairman of the powerful Lippo Group and one of the wealthiest people in Indonesia, with interests including real estate, banking and retail.

Riady is also a budding media mogul. He owns the Indonesian business magazine Globe and is developing a Web portal and a cable television news channel.

"I think they are serious about creating a media empire, becoming the Rupert Murdoch of South East Asia," said Lin Neumann, The Globe's chief editor.

The Globe, which has a print run of 40,000, will be going up against The Jakarta Post, which celebrated 25 years this year and has survived numerous attempts to unseat it over the past decade. It also survived the Asian financial crisis in 1998, which obliterated half a dozen other English-language publications.