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German Media Group Bets on Russia

Files under: Tech
Posted by: Quintura @ 21:01 [6. 12. 07]

WAZ Media Group takes control in a leading Russian regional weekly publication and online portal.

WAZ Media Group, a Essen, Germany-headquartered publisher of Westdeutsche Allgemeine Zeitung (WAZ), agreed to acquire a 75% stake in Sloboda, a weekly newspaper in a regional Russian city of Tula. Sloboda, which is published since 1994, has a circulation of 100 thousand copies, and annual sales of over EUR 2 million. WAZ Media together with Sloboda plans to launch weekly publications in Russian regional cities.

The Russian media speculated that Sloboda could be valued EUR 10 million.

WAZ publishes 37 other daily newspapers with a circulation of over 2,5 million copies, 112 popular magazines and trade journals, 133 advertising journals, and some 250 customer magazines in Germany, Austria, Thuringia, Hungary, Bulgaria, Croatia, Romania, Serbia, Montenegro and Macedonia. The annual sales of the group are over EUR 2 billion.