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Others TV 18 picks up 50 pc stake in JobStreet.com

TV 18 picks up 50 pc stake in JobStreet.com

Author | Noor Fathima Warsia & Pritie S Jadhav | Tuesday, Apr 04,2006 8:16 AM

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TV 18 picks up 50 pc stake in JobStreet.com

The digital space is attracting more attention everyday from all quarters of the Indian media industry. One of the most active players in the space, the TV 18 Group, has taken another step to strengthen its position by picking a 50 per cent stake in Malaysia-headquartered recruitment website JobStreet.com. TV 18 officials were not available for comments but sources familiar with the situation confirm the development.

The digital space has been seeing substantial action from Indian broadcasters for quite some time now. Another player in the new genre that took its share of news space was NDTV. The journey of these players in consolidating their positions and what can be expected next from them is still a wait and watch.

For their part, job portals like Naukri, Monsterindia, Jobstreet, Jobsdb and Timesjobs too have been making significant noise on the digital scene. As per a report in 2005, the size of the Indian e-recruitment industry is pegged at Rs 80 crore to Rs 100 crore and it is growing by 40-50 per cent annually, accounting for almost 20 per cent of the Rs 500 crore total recruitment industry.

Formed in 1995, JobStreet.com’s operations extend across Malaysia, Singapore, the Philippines and India, where it has offices in Mumbai, Bangalore and Chennai. JobStreet.com offers a comprehensive suite of interactive recruitment services in the Asian region. In February 2006, JobStreet.com posted a year-on-year growth of 76 per cent.

Sources further divulged that more steps could be expected from TV 18 to consolidate its position in the digital space. Further details were not available at the time of filing this report.

Tags: e4m

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