HT Media Enters Into Mobile Marketing; Plans to Serve Media Houses

HT Media forms mobile marketing JV with Velti Plc

New Delhi, India — HT Media Ltd., one of the largest publication company in India, has announced a new venture to provide mobile marketing services to other brands, ad agencies and network operators, in collaboration with Velti Plc, a London Stock Exchanged-listed applications and services firm.

HT’s digital subsidiary, Firefly e-Ventures Ltd, will have a 65% stake in the venture, which will be based in Gurgaon, outside Delhi, India. Amit Garg, the head of Firefly, will also manage the new venture, HT Media said in a statement.

Financial terms of the agreement, signed on Friday, 21 November 2008, were not disclosed.

The venture marks HT Media’s entry into mobile marketing, and the publisher said the new venture will provide solutions to other media houses as well.

The venture will use Velti’s mobile marketing platform to deliver mobile marketing and advertising services throughout India, which is now the world’s fastest growing mobile market in terms of number of new subscribers added each month.

“We look forward to offering breakthrough and patented mobile based marketing services to our valued customers. It also reinforces our position as India’s leading media house, providing a multi-channel advertising platform across print, radio, internet and mobile,” Rajiv Verma, chief executive officer of HT Media, said in the statement.

HT Media publishes the Hindustan Times, Hindustan and Mint, which together reach some 12 million readers every day. HT also owns Fever 104FM radio network as well as digital offerings such as Shine.com, a jobs portal, and DesiMartini.com, a social networking offering, in addition to hindustantimes.com and Mint’s web offering, LiveMint.com.

“India is a key market for Velti and establishing this JV (joint venture) with the Hindustan Times represents a significant strategic move in our global expansion,” Alex Moukas, CEO of Velti, said.

Source: livemint

About HT Media

HT Media found its beginning in 1924 when its flagship newspaper, Hindustan Times was inaugurated by Mahatma Gandhi. HT Media (BSE, NSE) has today grown to become one of India’s largest media companies.

Produced by an editorial team known for its quality, innovation and integrity, Hindustan Times (English) and Hindustan (Hindi), have a combined daily circulation of 2.25 million copies and a readership base of 12.4 million readers to their credit. Both dailies enjoy a strong brand recognition among readers as well as advertisers.

HT Media, through its subsidiary HT Music and Entertainment Company Ltd., has made its foray into electronic media. Diversifying its ambit of operations, the company in a consulting partnership with Virgin Radio, has launched the FM radio channel - Fever 104. Currently available in Delhi and Mumbai, Fever 104 has established a strong presence as being one of the most vibrant channels on air. In a short span of two years, the channel’s rise has been meteoric considering its position in Delhi as the No. 2 station on the popularity charts.

HT Media reported FY 2007 annual revenue of USD 245 million. For the fiscal third quarter ended March 31, 2007, the company reported a 13% increase in revenue to USD 82 million and a 10% increase of profit after tax (PAT) to USD 9 million from the year-ago quarter.

Source: HT Media

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