HT Media to form JV with US firm Apollo Global

HT Media Ltd (HTML) today said it has entered into an agreement for an equal joint venture with US-based Apollo Global Inc to roll out programmes and services in the education space.

"The venture between HTML and Apollo Global, a subsidiary of Apollo Group In (USA), is intended to address the urgent need in the country for quality educational services and the 'education-employment mismatch'," HTML said in a BSE filing.

The JV will enable India's business community to train and empower employees for a 21st century global workplace, it added.

The company however did not provide details of the nature of courses to be rolled out.

In the education space, HT Media already runs 'Studymate' tuition centres in Delhi and brings out HT Education, a newspaper for youth. It also operates HT Campus, an online resource for students looking for higher education.

Formed in 2007, Apollo Global is a joint venture between US-based private education provider Apollo Group and private equity firm, the Carlyle Group.

HT Media's scrips were trading at Rs 124.20 per share, up 0.57% from the previous close, on the BSE.