Exclusive: UTV Interactive, the digital arm of the UTV Group has given Techtree, CXO Today and ChannelTimes, the three properties it acquired when it bought IT Nation, to Trivone Digital Services, a digital content services company launched by L Subramanyanan, who was once the CEO of Chandamama, and was once the editor of Dataquest. The possibility of a buyout by Trivone was reported by George D’Souza earlier today, but we’ve confirmed from both UTV Interactive and Subramanyanan that it isn’t a buyout, but a management contract. UTV Interactive is retaining the ownership of the brands, but Trivone will do the sales, and manage the sites under a revenue share arrangement, Subramanyanan told MediaNama.
“It’s a long term contract,” Subramanyanan added, saying that there will be a revamp, a change in focus in terms of audiences and content for the three properties. He believes that the upside with the three portals is very high, since they have been under leveraged.
Trivone has 14 people right now, three of them in sales (two in India and one in the US), while the UTV Interactive team has around 30 people dedicated to these portals. With the entire management of the portal is moving to Trivone, what happens to them? We’re awaiting a response from UTV Interactive on this; Subramanyanan says that they will be making offers to some employees from UTV.
UTV had acquired 76% stake in IT Nation for Rs. 15 crores in 2008, which was followed by some layoff’s in 2009.
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