HT Media & Time of India Group to join hands to publish newspaper for Delhi

MUMBAI: The two print media heavyweights HT Media Ltd and The Times of India Group will now be embarking on a joint venture to publish a newspaper in Delhi. 

The endavour is meant to cater to changing needs of the reader and the arrival of Delhi as an International city. The joint venture will draw strength from the competencies of both Groups, allowing them to work together to efficiently grow an exciting and nascent market.

The 50:50 joint venture (JV) has to be approved by the board, as informed to the Bombay Stock Exchange (BSE).

HT Media Ltd vice chairperson Shobhana Bhartia said, "We are pleased to collaborate with BCCL on this value creating opportunity which reflects our commitment to delivering Highly relevant editorial content. We believe that the new paper will give advertisers an opportunity to engage the reader on an unprecedented level."

The company's flagship Hindustan Times newspaper was inaugurated by Mahatma Gandhi in 1924. It also publishes the Hindustan (Hindi paper) and will shortly launch FM radio stations and a daily business newspaper in key Indian metros.

The Times of India Group holds some of the leading newspaper, magazine, radio, Internet and television brands in the country. The Group also has a significant presence in music, filmed entertainment, events, out of home advertising and multimedia.

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