CyberMedia India has undertaken a massive restructuring exercise to combat the recession and is consolidating brands within the media house. Its flagship technology portal CIOL (CyberMedia India Online Ltd) will be merged with parent company CyberMedia India Ltd, the company has announced to the BSE. The merger has received a green signal with an in principle approval from the board of directors and a sub-committee has been appointed to prepare a draft scheme, the company has revealed. CIOL claims to receive a monthly average of 10.5 million page views and 1.1 million unique visitors.
Please note: The notice published on the BSE mentions the parent company as Cybermate Infotek. On being contacted, a Cybermedia spokesperson told MediaNama that there appears to have been a mistake: Cybermate Infotek, a listed BPO and software solutions company is not related to Cybermedia.
CyberMedia will stop printing its Global Services magazine, which targets the outsourcing community in US and Europe, and make it completely online. It will also merge the Voice & Data Connect, targeted at channel partners in the telecom industry, with the Voice & Data. Cybermedia Chairman Pradeep Gupta had told MediaNama a few months ago that they don’t view their publications as online or offline businesses, but as brands. In that respect, the integration of online properties is in line with the company overall strategy.
CyberMedia’s media segment has 15 publications and 12 websites overall including Dataquest, PCQuest, Voice&Data, Living Digital, BioSpectrum, Dare and Halsbury’s Law.
Cost control measures will also be put into place soon, the company has said in its quarterly report. Expenses reached Rs 315.91 million in the third quarter, as against Rs 257.7 million in the corresponding quarter last fiscal. The company has incurred Rs 100.3 million in employee costs this quarter.
CyberMedia India has registered a consolidated net loss of Rs 22.84 million in Q3-09. Its consolidated operating income stands Rs. 294.52 million, which has dipped by 18.4 percent from last quarter. On a standalone basis, CyberMedia India registered an operating income of Rs 128.87 million, down from Rs. 206.68 for the same quarter last year. CyberMedia India has recorded standalone loss of Rs 7.06 million.
While its media services segment has expanded, and is now contributing to 49 percent of the turnover up from 34 percent last year, the company has reduced its dependence on print ads over the year. Print advertisement business contributed 49 percent in third quarter last year but now accounts for 39 percent of the total turnover. Research firm IDC India, custom publishing firm TDA Group LLC and content management services are part of the media services segment.
(with inputs from Nikhil Pahwa)