With the intention to tap developing media platforms in Asian countries, Newspaper publisher HT Media Ltd has signed up a joint venture deal with German media group to set up a printing facility near New Delhi.

The joint venture (JV) leverages HT Media’s know-how in printing and publishing and Burda’s global multimedia operation.

Mr. Rajiv Verma CEO, HT Media, said, “The venture enables us to bring global best practices and technology to the printing side of our business among other areas and capture opportunities in the booming high-end magazine and catalogue printing space in India and the Asia-Pacific region.”

The JV marks Burda’s formal entry into the Indian market.

Presently, HT Media has 19 printing facilities in India, which it uses for its own publications and other Indian customers.

The JV is likely to be advantageous in its first full year of operations, it said.

The German media group, like HT Media, has interests in radio, publishing, event management and the internet, and will outsource some of its global printing requirements to the joint venture.

Mr. Hubert Burda, chief executive officer of Burda Media, said, “We are considering further projects with HT Media in the Indian market.”

At 2:05 pm, shares of HT Media gained 1.3%, to trade at Rs 123.40 on the Bombay Stock Exchange (BSE).