Pressexpo now belongs to Independent Media

Joint statement by publishing houses Independent Media and Burda

In April 2003, publishing houses Independent Media and Burda founded Pressexpo, LLC. Since that time, the company has become a serious player on Moscow's distribution market. At present, it supplies periodicals to supermarkets (Sedmoy Kontinent, SPAR, Mosmart) and to gas stations (LUKoil, Yug-Oil, etc) and covers 117 retail outlets in total.

Burda and Independent Media have acknowledged their partnership in Pressexpo management as successful. But because Burda publishes few glossy magazines which make up the main part of periodicals at supermarkets and gas stations, both sides decided by mutual agreement that Burda drops out of the company and passes its shares to IM. Thus, IM has become Pressexpo's sole shareholder.

Publishing houses Burda and IM have agreed also to support each other in the future and coordinate their distribution policies.

Derk Sauer - Independent Media, CEO
Arnd-Volker Listewnik - Burda Russia, General Director