Our media properties will be assets for future: Sanjiv Goenka

In a Q&A, the company's chairman dwells on his firm's deal with Hola SL and says more deals in media could happen in the future

After acquiring publishing rights of the global business magazine, Fortune, for the Indian market and a majority stake in video news app, Editorji, the $6 billion RP-Sanjiv Goenka group has entered into a license agreement with Hola SL for publishing and distributing Hello! India magazine. Hola specialises in covering celebrity lifestyle and news and is published in Spain with local editions across 15 countries. After clinching the back-to-back deals in the last four months, chairman, Sanjiv Goenka tells Ishita Ayan Dutt that more deals in media could happen in the future and outlines how the different formats can be integrated. Edited excerpts: 

Q. What does the deal with Hola group entail?

A. We have tied up with the Hola group for rights to publish the Hello! magazine in India. We have been in dialogue for a while and finally closed it about 10 days ago. It’s an all-encompassing deal that includes rights for print, e-version, conferences, events, podcasts, videos, social media platforms and operating the website in India. This marks our entry into a different space.

In the business space, we have Fortune, Open is in current affairs, Editorji in the digital space, and now we have Hello! in the celebrity, lifestyle space.

Q. Is the first issue of Fortune out?

A. We launched the first issue yesterday with the 50 most powerful women in business. The second issue will be on the 500 most powerful corporates. So it’s two issues with a bang.

Q. You had a lot of plans in the digital space. What after the Editorji stake buy?

A. Editorji is going to get into vernacular. We will launch a Bengali version within November, trials are on. Then we will launch Hindi by December-January.  

Q. Is there scope for cross promotion across the different media formats?

A. We will have all editions in digital and you will see how all the formats will be integrated. We can take the content of Hello! and Fortune and put it out in the digital space and use editorji to promote them. So there will be scope for cross leverage.

We have six million power consumers across India in parts of Rajasthan, Maharashtra, Bengal and Noida. That becomes captive. So as far as Editorji is concerned, it is completely captive.

Q. Can you elaborate on how it will be captive for Editorji?

A. We can send Editorji to every consumer on whatsapp. So an additional six million get added to its existing base. I have 3.3 million customers in Kolkata; if they all get Editorji, it will make it the most widely circulated news format in Kolkata. This is something we will have on captive basis, but not that it will be confined to just this; it’s just the beginning.

Q. You just acquired publishing rights for Hello!, but the lifestyle segment at this point is at a low…

A. It may be low at this point, but people are without activity now. Most people have more time than they had in the past. We find people consuming so much more content, particularly through their phones or tablets. 

Anyway, the pandemic is not going to continue and six months will not define anything. Things are falling back into place, manufacturing is moving back. So all these properties are going to be assets for the future.

Q. Are you looking at more acquisitions in the media space? 

A. I have a great appetite. Talks are on, but can’t talk about it.

Q. Are the talks for a deal in the electronic media space related to news?

A. Yes, it is.