Time Out Group Announces New Franchise Agreement to Launch Time Out India
Why we think this is neutral
This RNS announcement is a general update on a new franchise agreement to launch Time Out in India. It does not contain any of the mandatory news types such as contract news, order news, trading update, or annual results. Therefore, the sentiment is assessed as neutral.
Key Points
- New franchise agreement to launch Time Out India
- QDL to launch digital Time Out India channels including timeout.com/india
- Franchise agreement includes 3-year exclusive option for QDL to explore Time Out Market opportunities in India
- Time Out to receive ongoing franchise fees and exclusivity/pre-development fees for Markets without capital expenditure
Summary
Time Out Group plc (AIM: TMO) has announced a new franchise agreement with Quint Digital Limited (QDL), India's leading media-tech company, to launch Time Out India. The agreement includes the launch of digital Time Out India channels and the potential for QDL to explore future opportunities to invest in, open and operate Time Out Markets in India. This partnership aims to further expand the Time Out brand and build a city-focused ecosystem in India through digital content and physical Markets.