HT Media Ltd, one of India's largest media companies, and the German media group, Hubert Burda, have formed a joint venture to tap growing media platforms in India and Asia. The JV leverages HT Media's world-class expertise in printing and publishing, and Burda's large and global multimedia operation, combining it with India's unique competitive advantage in several current and new business platforms.
The JV marks Burda's formal entry into the Indian market, one of the fastest growing media markets in the world. Burda will outsource some of its global printing requirements to the joint venture.
HT Media, which has 19 printing facilities across India -- many of them are world-class like the Greater Noida & Mumbai facilities -- has so far used them largely for its own publications and other Indian customers. The HT-Burda joint venture will help take this printing expertise global.
"This venture enables us to bring global best practices and technology to the printing side of our business among other areas, and captures opportunities in the booming, high-end magazine and catalogue printing space in India and the Asia-Pacific region," said Rajiv Verma, CEO, HT Media.
The printing facility that will be set up by the JV will be located alongside HT Media's state-of-the-art Greater Noida facility near New Delhi. Both companies emphasized that they would also be exploring other strategic areas for growth.
The companies expect the joint venture to be profitable in its first full year of operations. "A substantial portion of the business has already been secured as part of the JV," said Verma.
Dr Hubert Burda, CEO and Promoter of Burda Media, said, "Both houses have been in the publishing business for some hundred years. The joint venture is an indication of how similar our philosophies are. I am impressed by the economic boom in India and by the professionalism of our business associates. We are considering further projects with HT Media in the Indian market."
Burda's venture adds another global media partner to HT Media, whose exclusive partners in India include News Corp, through The Wall Street Journal, and Virgin Radio.
HT Media is the publisher of leading dailies Hindustan Times, Hindustan, Mint, and it owns the FM radio station Fever 104. The media major owns web businesses such as shine.com, an online careers portal, desimartini.com, a social networking business, as well as two popular news portals -- hindustantimes.com, for general news, and livemint.com for premier business news and features.
Burda has interests in publishing, radio, event management and the Internet. Apart from staging the largest premium annual digital conference in Europe, Burda also publishes and prints several hundred magazines
including local editions of Elle, Playboy and Focus, and catalogues. In June 2008, Dr Burda was conferred with the "Hall of Fame 2008" award in Germany by the Manager magazine for his outstanding contribution to the economic, social and political development of Germany.
HT Media enters into printing JV with Germany’s Burda Media