HT Media Transfers Non-News Digital Properties To New Subsidiary: Medialab Web Solutions
By Nikhil Pahwa - Thu 02 Aug 2007 03:41 AM PST
During the last quarter (Q1 2007-08), HT Media formed a wholly owned subsidiary called Medialab Web Solutions Ltd, with an initial equity capital investment of Rs. 50 lakhs, as per an earnings release. Sources have informed ContentSutra that not all the digital properties have been transferred to Medialab: the news sites will remain a part of HT Media, while the classifieds and the job portal with Redmatch will be with Medialab.
There’s nothing on digital earnings in the earnings release, which is rather disappointing. On the mainstream media front, the company also plans to hive off its Hindi Business as a separate subsidiary company.
