Over the last weekend there were rumors in Russian online media that Forbes was going be acquired by ONEXIM Group. Axel Springer Russia has been publishing the Russian edition of Forbes since 2004. The Forbes magazine reaches more than 714,000 readers every month in Russia with an average circulation of 120,000 copies.
On November 26, the Russian wholly-owned subsidiary of Axel Springer AG of Germany and Forbes Inc. agreed upon an extension of their cooperation. Axel Springer Russia will continue to publish the Russian edition of the Forbes magazine until at least 2020. Both partners also reached an agreement on the launch of line extensions and additional online activities.
In addition to Forbes, Axel Springer Russia publishes the magazines ComputerBild, Russian Newsweek, and OK! Magazine. The visual-based site search on magazine web-sites ComputerBild.ru and RuNewsweek.ru is powered by Quintura.
Axel Springer AG announced today that it acquired a 10 percent stake of major Turkish media group, Dogan Yayin Holding for EUR 47 million.