The acquisition integrates a suite of high-profile publications—including ELLE, Esquire, Grazia, and LUXUO—into the ITP portfolio, which now spans 90 brands across 10 countries. By absorbing Heart Media’s operations, ITP aims to capitalize on the rapid growth of ultra-high-net-worth audiences in the Asia-Pacific region, a sector currently seeing significant surges in wealth concentration and luxury demand.
ITP Media Group Expands Into Asia with Heart Media Acquisition
Dubai-based ITP Media Group has finalized its takeover of Singapore’s Heart Media Group, marking a strategic push into Southeast Asia. The deal grants the Middle Eastern media giant access to luxury and lifestyle markets across Hong Kong, Malaysia, and Singapore, effectively scaling its reach to a population of over two billion.
Ali Akawi, CEO of ITP Media Group, described the move as a foundation for a broader, multi-year global expansion strategy. Olivier Burlot, the outgoing head of Heart Media, will join the ITP board to guide the transition, while Wilson Lim continues to oversee regional management in Singapore and Malaysia. The integration will focus on scaling cross-border digital platforms, live events, and gaming activations, leveraging ITP’s existing infrastructure to connect global luxury brands with affluent consumers in these emerging markets. This move builds on ITP’s recent licensing expansion, including a 10-year agreement to operate Time Out in Hong Kong and Singapore.
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