HT Media Limited has announced an update regarding its FM Radio operations in Chennai, putting the previously planned closure on hold. The media company informed stock exchanges about this development concerning its subsidiary's radio station operations.

Reversal of Closure Decision

The company has decided to keep the closure of its Fever FM Radio Station operations in Chennai on hold, reversing its earlier decision. This update comes as a continuation of the disclosure made previously, when the company had initially announced plans to shut down operations.

Subsidiary Company Details

HT Music and Entertainment Company Limited (HTME), a wholly owned subsidiary of HT Media Limited, operates the Fever FM Radio Station in Chennai. The subsidiary had previously surrendered the license issued by the Ministry of Information and Broadcasting (MIB), Government of India, for operating the FM Radio Station.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both BSE Limited and National Stock Exchange of India Limited about this development.

The decision to keep the closure on hold suggests that HT Media may be reconsidering its strategy for the Chennai FM Radio operations, though the company has not provided specific reasons for this reversal in its regulatory filing.

HT Media Limited , a leading media company, has released its financial results for the second quarter, showcasing strong digital growth amidst overall revenue challenges.

Digital Segment Leads Growth

The company reported a significant 23% year-over-year increase in digital revenue, with this segment now accounting for 31% of total sales. This growth underscores HT Media's successful efforts in digital transformation and expansion of its online presence.

Overall Financial Performance

Despite the digital success, HT Media faced some headwinds in its traditional segments:

The company's total revenue saw a modest increase of 4.2% compared to the same quarter last year. While EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) improved significantly by 33.1%, HT Media still reported a net loss, albeit reduced from the previous year.

Segment Performance

• Print & Publishing: Revenue grew both annually and sequentially, with improved operating margins due to cost management efforts.
• Radio: The segment saw sequential improvement in revenue and profitability, despite industry-wide challenges.
• Digital: Consistent growth on both annual and sequential basis, though margins remain under pressure due to ongoing investments.

Strategic Focus

HT Media is implementing several strategic initiatives to navigate the evolving media landscape:

1. Expanding its subscription model through OTT platforms and news portals.
2. Implementing cost rationalization measures to restore margins.
3. Focusing on brand monetization and regional content expansion.

Outlook

The company expects a gradual recovery in its print advertising and radio segments. Management remains committed to digital transformation while reinforcing the value of its core print portfolio.

Chairperson and Editorial Director Shobhana Bhartia commented, "We are strategically adapting across all business verticals. We are driving our Digital business through targeted content initiatives while simultaneously reinforcing the value of our core Print portfolio and sharpening the focus of our Radio business on integrated formats and immersive audience experiences."

As HT Media continues to navigate the changing media landscape, its strong digital growth and strategic initiatives position the company to capitalize on emerging opportunities while managing challenges in traditional segments.