January 19, 2021
Media company HT Media Limited posted a consolidated operational revenue of ₹341 crore, which is down 40% YoY and up 31% over the previous quarter, in the quarter ended December 31, 2020. The company posted digital revenues of ₹25.42 crore; the segment, however, posted losses of ₹20 lakh.
During the quarter, HT Media pumped in ₹5.26 crore in Mosaic Media Ventures Private Limited, the parent company of VCCircle, which the Shobhana Bhartia-headed company acquired from News Corp in July 2020. Mosaic Media became a wholly-owned subsidiary of the company from December 2, 2020. All is not going well with the merger, as NewsLaundry reported. A substantial number of VCCircle staff are no longer with the company, and their offices in Delhi and Mumbai have been shut down.