HT Media Limited has informed the Exchange about clarification in reference to media reports
HTMEDIA · price
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Awaiting price reaction for this filing.
HT Media has issued a clarification responding to media reports suggesting leadership changes in its audio/radio business. The company states that its audio/radio business operates through HT Media Ltd and its subsidiaries Next Radio Ltd and HT Music and Entertainment Company Ltd, and that there have been no changes in the management of any of these entities. The company clarifies that the media reports were apparently based on a disclosure made by Next Mediaworks Ltd (NMW), another subsidiary, which does not actually operate any audio or radio business. The filing is signed by Manhar Kapoor, Group General Counsel & Company Secretary.
This is a proactive clarification to dispel market confusion from misleading media reports. It reassures investors that there are no undisclosed senior management changes in the audio/radio segment, which is neutral for the stock.