The leading Russian ‘interest media’ publisher, Gameland, acquired the other special-interest magazine publisher, Mediasign for ca. $20 million from Camden Partners, reported business daily Kommersant. The deal was financed from proceeds of Gameland‘s new share issue to the company’s existing investor, Russia New Growth Fund. The fund is managed by Troika Capital Partners. As a result of the acquisition, Gameland should increase its valuation to $70 million, estimated experts.
Mediasign, which was started in 1998 as a publisher of CarMusic magazine, now publishes 13 magazines (5 own titles and 8 Western titles: T3, PC Gamer, Total Film, etc) and runs 10 online properties with combined audience of more than 5 million readers. Mediasign was acquired by Camden Partners from its founders in 2004. The company’s revenues were estimated at $15 million in 2007.
Gameland publishes 19 magazine titles and runs 10 online properties with a combined audience of 6.5 million readers. The company reported revenues of $22 million in 2007. Gameland raised $2 million from Mint Capital in 2003. The company raised additional $12 million from Troika Capital Partners in September 2007. The publisher recently acquired a popular hocker site AllHockey.ru.