Independent Media buys back its shares from Prof-Media

Publishing house Independent Media buys back a 35% shareholding in the company that was previously purchased by publishing house Prof-Media. The deal brought 100% shareholding control to the founders of Independent Media and its head Derk Sauer.

Rafael Akopov, general director of Prof-Media, commented: "Seen from an investorуs point of view, it's a very profitable deal for Prof-Media. The dynamic growth of the advertising market and Independent Media's effective development strategy considerably raised the shares' price".

General Director of Independent Media Derk Sauer also expressed his satisfaction with the deal and appreciation of the former partnership with Prof-Media.

Reference
Independent Media publishes more than 30 magazines and newspapers in Russia, Kazakhstan and Ukraine. Its portfolio includes magazines Cosmopolitan, Harper's Bazaar, Magia Cosmo, Cosmopolitan Beauty, Cosmopolitan Shopping, Good Housekeeping, Robb Report, Seasons, Popular Mechanics, Men's Health, FHM, Yes! Yes!-Fabrika zvyozd, Top Sante, Harvard Business Review Russia, Agrobusiness, and also newspapers The Moscow Times, The St.Petersburg Times, Na Rublyovke, Vedomosti (released in collaboration with the Financial Times and the Wall Street Journal).

Prof-Media owns the controling shareholdings of newspapers Izvestia, Komsomolskaya Pravda, Sovietsky Sport and Express-Gazeta; the magazines Expert and Finansovy Direktor; radio stations Avtoradio, Energia and Disco; company Segodnya-Press (periodicals distribution), cinemas chain Cinema-Park, and printing house Prof-Media Print.