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ITP Media Group Acquires Heart Media In Major Asia Expansion
(MENAFN- PRovoke)
SINGAPORE - Middle East-headquartered ITP Media Group has acquired Singapore-based Heart Media Group, expanding into Singapore, Malaysia and Hong Kong and creating a combined media business spanning the GCC, India and Asia-Pacific.
Heart Media's brands and teams will now operate under the ITP Media name, with the integration being phased to maintain their existing editorial identities, client relationships and audiences.
The acquisition gives ITP a portfolio of 90 media brands and a physical presence in 10 countries, reaching a monthly audience of more than 200 million people.
Heart's portfolio includes titles such as Grazia, Esquire, ELLE, ELLE Men, LUXUO, Yacht Style, Men's Folio, World of Watches and NOBLE.
The group is planning further investment following the acquisition, including growing teams across editorial, digital, design and live events, as well as developing cross-border digital media, industry events, gaming tournaments, brand activations and live sporting experiences.
Heart managing director Wilson Lim told PRovoke Media that luxury brands are increasingly looking for media partners that can combine global reach with locally relevant storytelling.
“Luxury brands are increasingly asking for locally-resonant content that is part of global conversations,” Lim said.“This could mean working with artistes and personalities with international clout, and the combined group would enable access of this showcase on a broader global exposure through just one single project.”
He added that the group's local editorial teams would allow global stories and campaigns to be adapted for individual markets and cultural sensitivities across the regions in which it operates.
The acquisition also expands the range of marketing services available to brands through ITP, whose business already extends beyond traditional publishing into influencer marketing, events and creative communications. Its ITP Live division focuses on influencer marketing, while the group has also built dedicated gaming and sports businesses.
Asked how that expansion affects ITP and Heart's relationships with PR agencies, particularly as media owners increasingly move into areas traditionally occupied by communications and marketing firms, Lim said agencies would remain important partners.
“From its genesis, Heart Media Group's aim has always been to be a one-stop media solutions partner,” he told PRovoke Media.“Our suite of international and regional media brands will go beyond high-quality print magazine, highly-engaged digital and social media, and buzzworthy events.”
“Therefore, the acquisition allows us to expand into influencer marketing, content and brand experiences, strengthening our capabilities and ethos. PR agencies have always been and will continue to be our steadfast partners and collaborators in our growth plans as they bring their unique expertise in each vertical.”
Burlot will join ITP Media Group's board and continue to provide strategic licensing direction as part of a phased equity transition. Lim will remain with the business as managing director of ITP Media Singapore and Malaysia, overseeing its existing operational, sales and editorial teams.
“When we built Heart Media, the ambition was always to give Asia's luxury and lifestyle audiences media truly worthy of them,” Burlot said in the acquisition announcement.“Joining ITP is the natural next chapter. It takes everything we have created and gives it scale, investment and a bridge into one of the world's fastest-growing luxury markets.”
ITP CEO Ali Akawi said the acquisition forms part of a multi-year strategy of international expansion and targeted acquisitions, as the company looks to build a media ecosystem with greater global scale.
The deal follows ITP's recently announced 10-year agreement to operate Time Out Hong Kong and Time Out Singapore.
Heart Media's brands and teams will now operate under the ITP Media name, with the integration being phased to maintain their existing editorial identities, client relationships and audiences.
The acquisition gives ITP a portfolio of 90 media brands and a physical presence in 10 countries, reaching a monthly audience of more than 200 million people.
Heart's portfolio includes titles such as Grazia, Esquire, ELLE, ELLE Men, LUXUO, Yacht Style, Men's Folio, World of Watches and NOBLE.
The group is planning further investment following the acquisition, including growing teams across editorial, digital, design and live events, as well as developing cross-border digital media, industry events, gaming tournaments, brand activations and live sporting experiences.
Heart managing director Wilson Lim told PRovoke Media that luxury brands are increasingly looking for media partners that can combine global reach with locally relevant storytelling.
“Luxury brands are increasingly asking for locally-resonant content that is part of global conversations,” Lim said.“This could mean working with artistes and personalities with international clout, and the combined group would enable access of this showcase on a broader global exposure through just one single project.”
He added that the group's local editorial teams would allow global stories and campaigns to be adapted for individual markets and cultural sensitivities across the regions in which it operates.
The acquisition also expands the range of marketing services available to brands through ITP, whose business already extends beyond traditional publishing into influencer marketing, events and creative communications. Its ITP Live division focuses on influencer marketing, while the group has also built dedicated gaming and sports businesses.
Asked how that expansion affects ITP and Heart's relationships with PR agencies, particularly as media owners increasingly move into areas traditionally occupied by communications and marketing firms, Lim said agencies would remain important partners.
“From its genesis, Heart Media Group's aim has always been to be a one-stop media solutions partner,” he told PRovoke Media.“Our suite of international and regional media brands will go beyond high-quality print magazine, highly-engaged digital and social media, and buzzworthy events.”
“Therefore, the acquisition allows us to expand into influencer marketing, content and brand experiences, strengthening our capabilities and ethos. PR agencies have always been and will continue to be our steadfast partners and collaborators in our growth plans as they bring their unique expertise in each vertical.”
Burlot will join ITP Media Group's board and continue to provide strategic licensing direction as part of a phased equity transition. Lim will remain with the business as managing director of ITP Media Singapore and Malaysia, overseeing its existing operational, sales and editorial teams.
“When we built Heart Media, the ambition was always to give Asia's luxury and lifestyle audiences media truly worthy of them,” Burlot said in the acquisition announcement.“Joining ITP is the natural next chapter. It takes everything we have created and gives it scale, investment and a bridge into one of the world's fastest-growing luxury markets.”
ITP CEO Ali Akawi said the acquisition forms part of a multi-year strategy of international expansion and targeted acquisitions, as the company looks to build a media ecosystem with greater global scale.
The deal follows ITP's recently announced 10-year agreement to operate Time Out Hong Kong and Time Out Singapore.
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