Time Out Group (LSE:TMO) has signed a 10-year franchise agreement with ITP Media Group covering its media operations in Hong Kong and Singapore, effective immediately.
The global media and hospitality company said ITP will take over editorial operations, digital platforms, social channels, events and experiential activations in both cities, with the local Time Out teams transferring to ITP under the new structure.
The deal extends a partnership of more than 20 years, during which ITP has operated Time Out franchises across the Gulf Cooperation Council, including Dubai, Abu Dhabi, Bahrain, Doha, Riyadh and Jeddah.
The agreement fits Time Out's stated strategy of handing selected markets to established local operators while retaining brand oversight and collecting recurring franchise fees.
ITP Media Group operates more than 40 brands and reaches a global monthly audience of over 200 million across digital, social, print and live platforms.
"ITP has been a trusted Time Out franchise partner for more than 20 years, and this new 10-year agreement reflects the strength of that relationship and our confidence in their ability to continue growing the brand," said Rob Biagioni, CEO of Time Out Media.
