Apr 28
Independent Media Sanoma Magazines acquired a 55% stake in Russian magazine publisher Lux Media (aka Global Media Group). The deal will be closed in the second quarter of 2008. IM has an option to acquire the remaining 45% until 2012.
Lux Media publishes Collezioni (fashion), Homes Overseas (real estate) and Wedding (weddings). The founder of Lux Media, Artyom Kind, will remain General Director of the publisher.
The acquisition will strengthen IM’s position in the luxury segment of the magazines market.
Source: Independent Media Sanoma Magazines
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