Top Story

e4m_logo.png

Home >> Media – Print >> Article

Mid-Day Multimedia to strengthen national presence with more editions

13-February-2008
Font Size   16
Share
Mid-Day Multimedia to strengthen national presence with more editions

Mid-Day Multimedia has revealed its plans to expand its reach beyond Mumbai, Delhi and Bangalore and have a national presence with the launch more editions. The company has also taken concrete steps to raise funds for this expansion. According to Manajit Ghoshal, Chief Financial Officer, Mid-Day Multimedia, the source of funds would be both domestic and foreign investors.

Though Ghoshal preferred to keep mum on the amount of money that would be raised, he did inform exchange4media, “Mid-Day is planning to launch further editions in the coming year, and in order to facilitate this expansion plan, the company has been looking at various sources and structures to raise funds. The company has now identified the path to be taken to raise these funds and has decided to transfer the print and Internet businesses to a new wholly-owned subsidiary called Mid-Day Infomedia, which will now run these businesses. The funds for expansion will be raised in this new company.”

There have been some speculations in the media regarding the proposed structure of Mid-Day Multimedia and its move to sell off its business. In order to put all rumours to rest, the company had recently released a press note that clarified, “There is no move to sell off the business by the promoters as has been reported in some sections of the Press. We wish to reassure all our readers, stakeholders and customers that this is just a framework / internal arrangement / structure to raise funds to take Mid-Day to new heights.”

Meanwhile, on the marketing front, Mid-Day continues to target the Yumpi – the young, urban, mobile professional across India, and plans to adopt the same marketing strategy for its upcoming editions.

Tags

Our typical marketing budget is usually 10 per cent of the topline spend

There are some forces impacting the way our business works. The IT/ITeS sector has changed tremendously. Platforms like Twitter have made everyone journalists. Smartphones have made everyone a photographer. The trend that we are seeing is one of hyperdigitalization, which is causing the lines between product and services to blur. For example, <a href=http://www.exchange4media.com/company/news/amaz...

The OOH sector is among the fastest growing, globally. Brands and marketers have realized its potential and impact and begun to craft medium-specific adverts. Self-regulation is not only necessary but also essential to growth of the sector. The industry needs to exercise a certain level of this self-restraint to prove its commitment to maintaining the best standards in advertising.

<b>Clients are looking for experiential solutions beyond radio or print: Abraham Thomas, Radio City 91.1 FM</b><br><br> From entering new markets to launching large format events, Radio City 91.1FM has been on a roll. The radio channel recently announced the launch of India’s biggest singing talent hunt-Radio City Super Singer Season 8. Earlier this year, the channel set up its own creative-cum...

Under the watchful eye of Walt Disney, Bindass undergoes brand repackaging with a fresh new show ‘Dil Buffering’ simulcast across its linear and social media platforms on September 29 and will launch...

Apart from the mandate for the first project which is the Ashiana Town in Bhiwadi, Tomorrow and InterTwined will deliver brand solutions across film, print, radio, outdoor and activation besides provi...

Despite advertising picking up after a slow Q1, regional FM players still feel that the lingering effect of GST, RERA, demonetisation will still make its impact felt during the upcoming festive quarte...