HT Media to transfer multi-media content management undertaking to HT Digital Streams

HT Media is likely to transfer its multi-media content management undertaking to its wholly-owned subsidiary HT Digital Streams on a slump exchange basis.

The slump exchange has been arrived at based upon the valuation report obtained from S R Dinodia & Co LLP, Chartered Accountants and is duly approved by the audit committee. A fairness opinion on the scheme has been obtained from D&A Financial Services (P).

HT Media is one of India’s foremost media companies, and home to three leading newspapers in the country in the English, Hindi and Business news segments - ‘Hindustan Times’ (English daily), ‘Hindustan’ (Hindi daily, through a subsidiary) and ‘Mint’ (business daily).