Bennett, Coleman & Company is exploring strategic tie-up opportunities for various businesses in its portfolio including music label, music retail chain, radio, Internet, multimedia, newspapers and its newly proposed television business. The media conglomerate is also not ruling out a public issue, though not in the near future.
Vineet Jain, managing director, Bennett, Coleman & Company, said, “We are open to strategic alliances that will not only bring value in terms of money but will enable us emerge as a global media company.” “We are a cash-rich company at this point. However, we may in future go for an initial public offering (IPO) depending upon the business needs. We are not closed to the option,” Jain added. The group is finalising nitty-gritties with media group Dow Jones to launch Wall Street Journal in India.
Besides publications such as The Times of India, Economic Times, Navbharat Times, Maharashtra Times, Femina and Filmfare, the group houses entertainment and online media companies such as Radio Mirchi, Planet M— the music retail chain store, Times Music— the music label venture and Times Multimedia and Times Internet.