MODERN TIMES, India — With no real choice left for them, Gopron Media is trying to keep its operation afloat in a time of global uncertainty.
The group has no business and no prospects outside India.
Gopron is a leading producer of content for the Indian media, and its online portal is the most visited site in the country, with more than 3 million daily visitors.
But the company has been struggling in the global marketplace, losing market share to rival Flipkart, a digital marketplace with a more robust portfolio of content.
Gopros revenue dropped to $100 million in December from $1.3 billion in the previous quarter.
Its online platform, Gomro, has struggled to stay afloat as it struggles to make money off of advertising.
The company is now looking to sell its content and cut costs.
The business is set to fall apart as it tries to get a deal to buy out its creditors.
But the company’s woes are not over yet.
It still has assets in India, including two studios in New Delhi.
Its chief executive said the company plans to go public soon.
Gomros debt is not far off $1 billion, and there are talks about selling some of those assets.
The media conglomerate said it is looking to raise $10 million from a group of investors, including some in the Indian tech scene, to fund the new venture.
Gomros is the largest publisher in India with about 3,400 employees.
It produces news, movies, books and entertainment content for more than 50 million people, according to Gomron’s website.
It is also the owner of several media properties including TV channels, newspapers, magazines, magazines and other publications.
It operates under a license from the government of India.
The company is not a large media player, but it has the potential to become one if it can find a buyer.
The stakes are high.
Goshal Shahi, a senior analyst at investment bank Barclays Capital, said Gomos financial woes could lead to it getting swallowed up by Flipkert, an Indian e-commerce firm that has grown rapidly in recent years and has a larger portfolio of online content than Goprot.