Thursday, Sep 03, 2026 12:38:17
The landmark deal in the 40-year history of the Middle East-headquartered business establishes one of the world’s leading independently-owned media groups – with the company eyeing further international growth.
DUBAI, UAE, SINGAPORE and KUALA LUMPUR, Malaysia , Sept. 3, 2026 /PRNewswire/ — ITP Media Group, one of the largest media companies in the Middle East, today announced the acquisition of Singapore-headquartered Heart Media Group, a leading luxury and lifestyle media house. The combined business will now operate in markets home to more than 2 billion people, connecting brands with affluent consumers across the GCC, India and Asia-Pacific.
Adding Heart Media’s operations, ITP Media expands to three new international markets: Hong Kong, Malaysia and Singapore. Heart Media brands and teams will operate under the ITP Media name, with integration phased to protect editorial identity, client relationships and trust of audiences. It builds on ITP Media’s existing operations in India, Lebanon, Saudi Arabia, UAE, UK, USA and Qatar.
South East Asia represents one of the fastest-growing markets for the media and entertainment industry, expanding at 6% per year with some markets up to 8.4% (PwC Global E&M Outlook). ITP Media’s investment aligns with growing demand amongst wealthy audiences in these regions, increasingly looking for media and luxury brands that serve their interests. Hong Kong has overtaken Switzerland as the top hub for cross-border wealth (BCG Global Wealth Report), while there are more than 4,000 single-family offices across Hong Kong and Singapore, quadrupling over the past five years. Malaysia is anticipated to see a 20% climb in ultra-high-net-worth individuals over the next five years (Knight Frank).
Heart Media’s publications – including ELLE, Esquire, Grazia, LUXUO, Men’s Folio, NOBLE, WOW (World of Watches) and Yacht Style – cater to these affluent audiences, providing ITP Media with access to new customers.
The group has earmarked investment to support the acquisition, including bolstering existing teams, supporting local economies and creating job opportunities across editorial, digital, design and live events.
These teams will roll-out cross-border digital media, events, gaming tournaments, brand activations and live sporting experiences. Through the group, luxury brands will access a streamlined cross-border platform, enabling advertising and sponsorship opportunities that connect with high-net-worth audiences across multiple markets.
ITP Media Group CEO, Ali Akawi, said: “At its core, ITP Media Group has always been about creating powerful content that connects people. As we look forward, our roadmap is focused on massive global scale. We are committed to a multi-year strategy of expansion and targeted acquisitions to build a media ecosystem capable of reaching billions worldwide. The acquisition of Heart Media Group strengthens our foundation as we scale our platforms, embrace new media technologies and bring world-class storytelling to a truly global audience.”
Olivier Burlot has propelled Heart Media Group through annual growth across Asia and will now join the ITP Media Group board. As part of a phased equity transition, he will continue to provide strategic licensing direction of owned and operated products.
Heart Media Group Founder, Olivier Burlot, added: “When we built Heart Media, the ambition was always to give Asia’s luxury and lifestyle audiences media truly worthy of them. Joining ITP is the natural next chapter – it takes everything we have created and gives it scale, investment and a bridge into one of the world’s fastest-growing luxury markets. I am proud of what our teams across Asia have built and genuinely excited by what they can now do with ITP’s reach behind them.”
Wilson Lim will continue as Managing Director of ITP Media (Singapore) & ITP Media (Malaysia) with support from current operational, sales and editorial teams, overseeing executive and management duties across the Singapore and Malaysia offices.
ITP’s latest acquisition follows the announcement of a 10-year agreement with Time Out to operate Time Out Hong Kong and Time Out Singapore.
Since 1987, ITP Media has grown from a single B2B brand with five staff, to a multinational business with offices across Asia, Europe, Middle East and North America, serving monthly audiences of over 200 million people. With this acquisition, ITP Media now has physical presence in 10 countries with a portfolio of 90 brands.
