We reported in August that HT Media was considering demerging its Hindi business and has hired consultant Ernst & Young to advise on the transaction.

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The company will consider an IPO or a stake sale for Hindustan Media Ventures over the course of the next year, a company official, who asked not to be named, said. This will help unlock value in a part of the company’s asset portfolio that is increasingly looking promising. Newspaper companies with exposure to regional advertising markets posted growth during the last results season, while those with heavy exposure to the metro markets, barely managed to report higher revenues. In the case of HT Media itself, strong earnings from the Hindi business propped up the overall numbers.

The company is unlikely to rush into an IPO or a stake sale, however. Commenting for our story in August, HT Media CEO Rajiv Verma said: “We don’t have a large funding requirement in that business and we are not immediately looking to raise funds there.”

Hindi newspaper group Dainik Bhaskar has also filed for an IPO.