New York Times Buying Stake in Indian Newspaper Deccan Chronicle: Reports
This story was written by Rafat Ali.
The New York Times Company (NYSE: NYT), through International Herald Tribune, is close to picking up a 5 percent stake in Hyderabad, India-based publisher Deccan Chronicle Holding (DCHL), according to multiple Indian reports. The company will pick up the stake in Sieger Solutions, the ad sales arm of DCHL...besides ad sales, the division also runs event management, outdoor advertising and digital ad sales businesses..it accounts for about 88 percent of the company's revenues.
DCHL already has a partnership with NYTCo, under which it publishes an edition of IHT in India..the two companies are likely to extend this relationship into a co-branding, content sharing and syndication partnership, the stories say. More interestingly, a source told Mint that NYTC would also outsource a significant part of the technical work on its online properties to Sieger. More when we get more
By Rafat Ali