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HT Media To Acquire A Social Networking Site

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HT Media is “in the process of acquiring” a site in the social networking space, as per an earnings release (pdf) from the company. So any guesses on which company they’re acquiring?

SEE ALSO: HT Media Transfers Non-News Digital Properties To New Subsidiary: Medialab Web Solutions

HT also plans to launch classifieds sites around Jobs, matrimonial and Real Estate—pretty much standard classifieds domains, some of which we’ve reported on earlier. HT Media also appears to have renamed its Internet subsidiary Firefly e-Ventures; it was called Medialab Web Solutions, and was announced last quarter. The company also claims that the re-launch of Hindustantimes.com has received consumer approval, which is “reflected in the increased page views”. No segment-wise earnings from HT Media; there is an analyst conference call here, which I might be posting updates from, if any.

Oct 30, 2007 7:50 PM ET

Posted In: Social Media, Companies, Hindustan Times Media

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