HT Media to go for cash in new-age digital businesses

Hindustan Media Ventures Limited (HMVL), a subsidiary of HT Media, is planning to deploy cash in new-age digital businesses. The company is also incubating its HT Labs business which is developing digital-first products for audiences based on their preferences, a source from the company said during the company’s Q4 earnings calls. Queried about HMVL’s cash utilisation strategy, HT Media Group CFO Piyush Gupta said that there is a clear plan to utilise this cash but as you know, HMVL right now has a substantial amount of cash on the balance sheet.