Indiantelevision.com Team

(8 January 2009 9:00 pm)

NEW DELHI: Subhash Chandra's Essel Group is getting into the Out of Home (OOH) advertising business. The company has roped in former Times OOH COO Farid Kureshi for this purpose.

Essel is yet to decide where the OOH business will be housed, the company spokesperson said.

Kureshi will also be responsible for ad sales through internet for group companies. "This will help Essel group synergise its efforts across the media entertainment value chain," the company said.

Kureshi had quit Times OOH to float his own venture, Via OOH, last year.

Kureshi has over 20 years of experience in print media and the entertainment industry. He has worked with Indian Express, Pioneer, Chitralekha Group of publications, Star Movies and Radio Mirchi.

The OOH space has seen a flurry of activity. Times Innovative Media Ltd, the OOH media subsidiary of Entertainment Network India Ltd (ENIL), attracted Rs 2 billion by diluting 8.28 per cent stake each to Goldman Sach and Lehman Brothers, valuing the company at Rs 12 billion.

Chandra is eyeing a piece of the rapidly growing OOH business which is dominated by unorganised and localised players.