Search
Contact GIC   Home   Sitemap
 
 
German Information Centre
Business News
Doing Business with Germany
Working in Germany
Resources  Resources

More Business News

Germany's External Economic Promotion
................................


News from the Deutschland Magazine
................................


Germany's international media organisation
 
Burda Media, which publishes various magazines in Germany, forms joint venture with India's HT Media
© dpa - Report
Germanyís Burda Media, Indiaís HT Media form joint venture

June 11, 2008

German media house Burda Media and India’s HT Media Ltd have entered into a joint venture (JV) for setting up a printing press in India.

"This venture enables us to bring best global 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.

According to German business daily Handelsblatt, Burda will dismantle a printing press in Offenburg to set it up near New Delhi by the end of 2009. The newspaper said that the 50:50 JV will have a capacity of 50,000 tonnes per year.

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."

One of India’s largest media companies, HT Media Ltd publishes Hindustan Times, Mint and Hindi daily Hindustan. It also owns FM radio station Fever 104 and online portals such as desimartini.com, a social networking site, and shine.com, a car portal. The company also owns two popular news portals, hindustantimes.com and livemint.com.

Hubert Burda Media is a privately held, family-owned global media company that is more than one hundred years old. The company is headquartered in Offenburg and Munich, has additional main offices in Berlin and Hamburg and has more than 7,400 employees. The German company publishes over 250 magazines worldwide with almost 70 titles in its home market, including Elle, Playboy and Focus.

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.



by Sakshi Arora
© German Information Centre New Delhi
back  Back   Share | Print story | Email story