Delayed Gratification?1 min read . Updated: 24 Dec 2008, 05:29 PM IST
A rapidly escalating slowdown in India’s economy has dealt a body blow to media companies, most of whom had invested heavily through the year on expansion, riding on a multi-year stock market boom and heady rise in consumer spending. With valuations plunging and investors hard to come by, most media companies are desperately looking at cost-cutting measures, even as most expansion plans have been put on hold or cancelled.
Also See State of New Projects (Graphic)
Meanwhile costs, such as payroll and raw materials, including paper, remain stubbornly high. Like other media houses, Mint’s publisher, HT Media Ltd, has also taken measures to cut costs, reduce pages and delay major expansion projects. With the situation likely to get worse before it improves, Mint presents an anecdotal report card on where some large media houses stand on various projects.
Graphics by Sandeep Bhatnagar / Mint