Axel Springer Russia, publisher of magazines and web-sites Russian Newsweek, Forbes Russia, Computer Bild and OK! Magazine, has acquired 100 percent of the shares in G+J Russia, the Russian publisher of G+J (Gruner+Jahr) magazine titles GEO, GALA Biografia, GEO Traveller, and GEOLenok and web-sites GEO.ru, Moi-Roditeli.ru, and MoiZvezdi.ru. The G+J titles and web-sites are transferred to the Russian subsidiary of Axel Springer of Germany, which will operate these print and online brands under license.
Dr. Torsten-Jörn Klein, Head of G+J International said that in Russia, Gruner+Jahr would only have been able to reach an excellent position on the market by making an excessive number of additional purchases at high prices.
G+J now has a partner that will continue operating its brands in Russia. By adding new titles and web-sites, Axel Springer will expand its market offerings.
Update: According to Handelsblatt (in German), Axel Springer paid several million Euro for G+J Russia and several hundred Euro for license.
Disclosure: Our visual-based search engine Quintura Site Search powers site search on the Axel Springer’s magazine web-sites RuNewsweek.ru and ComputerBild.ru