HT Media stock plunges by over 6% after MD and CEO Praveen Someshwar resigns

Shares of HT Media Ltd. plunged by as much as 6.6% on Monday, January 13, on the NSE after its managing director & chief executive officer (CEO) Praveen Someshwar resigned effective from February 28, 2025.

The leadership change, coupled with broader market sentiments, pulled the stock down by 6.42% to ₹19.84 apiece on the NSE.

Falling for the fourth straight session, the 30-share BSE benchmark Sensex fell for the fourth consecutive session, tanking 1,048.90 points or 1.36% to settle at 76,330.01. The NSE Nifty dropped 345.55 points or 1.47% to close at 23,085.95. Most of the stocks suffered amid the bloodbath on D-street.

HT Media’s market capitalisation stands at ₹460.84 crore.

Praveen successfully led the company through the Covid-19 pandemic and contributed immensely to its growth.

TikTok’s Sameer Singh will replace Someshwar as the CEO of the HT Media Group, as per a BSE filing dated January 11, 2025. Singh was the head of North America global business solutions at TikTok. He has held many other positions in the media field including at ByteDance India (Vice President of Monetisation) and at network GroupM (as CEO for India and South Asia). He has also worked at Google, Procter & Gamble, and IPG, among others. Singh is an IIM Calcutta alumnus with a career spanning over 30 years.

About HT Media

HT Media Ltd., a subsidiary of Hindustan Times, is a major player in the Indian media industry, offering a diverse range of services across print, radio, and digital platforms. It operates popular newspapers like Hindustan Times, Hindustan, and Mint, which have a significant readership across the country. Its flagship newspaper The Hindustan Times is among some of the most read newspapers in the country.

HT Media is also engaged in delivering entertainment and radio broadcasts through its well-known stations, including Fever 104, Fever, and Radio Nasha. The company’s digital ventures include a variety of online platforms, such as Shine.com.

For the second quarter of the current fiscal (Q2 FY25), the company posted a 7.55% increase in its total income to ₹423.75 crore. Its consolidated net loss stood at ₹7.59 crore in the reporting quarter as compared to a net loss of ₹50.31 crore in the same quarter of the previous fiscal (Q2 FY24).