The Forbes magazine publisher Forbes Media LLC, which is represented in Russia by its licensee Axel Springer Russia publishing house, has become the owner of Forbes.ru domain name in Russia. Forbes reached a settlement with Landmark VIP Services who previously owned the Forbes.ru domain name, the company announced.
Axel Springer Russia and Forbes won a domain name law suit last January. However, Landmark VIP Services disagreed with that decision and filed an appellation that was then approved. The two parties finally reached a settlement regarding the Forbes.ru domain name.
Axel Springer launched Forbes Russia online at Forbesrussia.ru in September 2009. Forbes is a leading Russian business magazine with an average circulation of 110,000 copies and more than 820,000 monthly readers. Axel Springer, which also publishes Newsweek and ComputerBild magazines in Russia, extended publishing cooperation with Forbes in Russia until 2020.
In November 2009, Axel Springer acquired the Russian business of German publisher G+J (Gruner+Jahr).