New projects of Independent media
IM and PM announce a B2B joint venture
Moscow, October 16 --- Independent Media and Profmedia, Russia's leading publishing companies, today announce an agreement to establish a joint venture to publish professional magazines.
The new company, in which Independent Media and Profmedia will hold equal stakes, has an ambition to become the leader in the b2b publishing market. It will launch and acquire up to 20 professional magazines in the next 5 years. Yekaterina Son, formerly finance director and business development director of Vedomosti business daily, has been named general director of the new company. Yevgeny Abov, deputy general director of Profmedia, has been appointed chairman of the board, which consists of two representatives of each company.
The company's initial assets include Finansovy Director, launched by Profmedia last year, and Agrobusiness, launched by Independent Media earlier this year. Both titles are already profitable on an operating basis, and have 20,000 paying subscribers between them.
Independent Media and Profmedia are investing "several million dollars" into the new venture, says CEO of Independent Media Derk Sauer. "Russia's b2b publishing market is very fragmented, with most titles lacking key characteristics of a professional magazine. It gives us a very good opportunity to quickly and relatively cheaply build a successful business", said Sauer.
"Our initial success with Finansovy Director and Argobusiness is a clear sign of a growing demand for analytical and practical industry-specific information in many sectors of the economy. We will meet this demand", says Vadim Gorainov, CEO of Profmedia.
About Independent Media:
Independent Media publishing house was founded in 1992. IM publishes the glossy magazines Cosmopolitan, Magia Cosmo, Сosmo Beauty, Cosmopolitan Petersburg, Cosmopolitan Ural, Cosmopolitan Kazakhstan, Cosmopolitan Ukraine, Harper's Bazaar, Domashny Ochag, Vkusno i Polezno, Popular Mechanics, Men's Health, FHM, FHM Ukraine, Yes!, Top Sante/Formula Zdorovya; the newspapers The Moscow Times, The St. Petersburg Times, Na Rublyovke, Vedomosti (a joint publication with Financial Times and The Wall Street Journal) and the newspaper supplements Business Review (The Moscow Times), Nedvizhimost (Vedomosti); B2B publications Agrobusiness, Finansovy Director
(a joint publication with Profmedia); the magazines Golf Style Next (a joint publication with the Moscow Golf Federation) and PROSPORT (a joint publication with Profmedia). Also IM owns 50% of the Pressexpo company.
About Profmedia:
ZAO Publishing House Profmedia is part of the Interros Holding, owning a control packet of shares in the daily newspapers Izvestia, Komsomolskaya Pravda, Sovietski Sport, Express Gazeta; the magazine Finansovy Director; the radio stations Avtoradio, Energia, Novosti on-line, and Segodnya Press distribution network. Also Profmedia is a shareholder in the Independent Media publishing house, PROSPORT and Expert magazines, Prime-TASS news agency and Prof-Media Print printing house.
IM enters the book market
Moscow, October 16 -- Independent media, Russia's leading glossy magazine and newspaper publisher, has acquired a 50% stake in Alpina Business Books, a book publisher specializing in management and finance literature.
The partners will expand Alpina's operation from 50 to 150 book titles annually within two years, to make it Russia's biggest business book publisher.
Alexei Ilyin, Alpina's co-founder and general director, will continue
running the company with the existing management team. "We have found a very strong strategic partner, and we can now grow even faster", says Ilyin. Alpina has put out such bestsellers as "Only The Paranoid Survive" by Andrew Grove, "Made in America" by Sam Walton, "Statecraft" by Margaret Thatcher, "How to Become CEO" by Jeffrey Fox and "Kotler on Marketing" by Philip Kotler. The company is working with the world's best-known book publishers and agents, including Wiley&Sons, McGraw-Hill, Warner Books, Simon&Schuster, Pearson and Andrew Nurnberg Literary Agency. Alpina has shown a dynamic growth in the past two years, doubling the number of its titles.
"Alpina is one of the most professional book publishers on the market, and together we will achieve even better results", says CEO of Independent Media Derk Sauer. "There are some obvious synergies in promotion and sales that we will realize".
Alpina will use Vedomosti and The Moscow Times, which cater for Russia's business community, to promote its books. Alpina and Independent Media's newspapers will share their customer databases.
Moscow, October 16 --- Independent Media and Profmedia, Russia's leading publishing companies, today announce an agreement to establish a joint venture to publish professional magazines.
The new company, in which Independent Media and Profmedia will hold equal stakes, has an ambition to become the leader in the b2b publishing market. It will launch and acquire up to 20 professional magazines in the next 5 years. Yekaterina Son, formerly finance director and business development director of Vedomosti business daily, has been named general director of the new company. Yevgeny Abov, deputy general director of Profmedia, has been appointed chairman of the board, which consists of two representatives of each company.
The company's initial assets include Finansovy Director, launched by Profmedia last year, and Agrobusiness, launched by Independent Media earlier this year. Both titles are already profitable on an operating basis, and have 20,000 paying subscribers between them.
Independent Media and Profmedia are investing "several million dollars" into the new venture, says CEO of Independent Media Derk Sauer. "Russia's b2b publishing market is very fragmented, with most titles lacking key characteristics of a professional magazine. It gives us a very good opportunity to quickly and relatively cheaply build a successful business", said Sauer.
"Our initial success with Finansovy Director and Argobusiness is a clear sign of a growing demand for analytical and practical industry-specific information in many sectors of the economy. We will meet this demand", says Vadim Gorainov, CEO of Profmedia.
About Independent Media:
Independent Media publishing house was founded in 1992. IM publishes the glossy magazines Cosmopolitan, Magia Cosmo, Сosmo Beauty, Cosmopolitan Petersburg, Cosmopolitan Ural, Cosmopolitan Kazakhstan, Cosmopolitan Ukraine, Harper's Bazaar, Domashny Ochag, Vkusno i Polezno, Popular Mechanics, Men's Health, FHM, FHM Ukraine, Yes!, Top Sante/Formula Zdorovya; the newspapers The Moscow Times, The St. Petersburg Times, Na Rublyovke, Vedomosti (a joint publication with Financial Times and The Wall Street Journal) and the newspaper supplements Business Review (The Moscow Times), Nedvizhimost (Vedomosti); B2B publications Agrobusiness, Finansovy Director
(a joint publication with Profmedia); the magazines Golf Style Next (a joint publication with the Moscow Golf Federation) and PROSPORT (a joint publication with Profmedia). Also IM owns 50% of the Pressexpo company.
About Profmedia:
ZAO Publishing House Profmedia is part of the Interros Holding, owning a control packet of shares in the daily newspapers Izvestia, Komsomolskaya Pravda, Sovietski Sport, Express Gazeta; the magazine Finansovy Director; the radio stations Avtoradio, Energia, Novosti on-line, and Segodnya Press distribution network. Also Profmedia is a shareholder in the Independent Media publishing house, PROSPORT and Expert magazines, Prime-TASS news agency and Prof-Media Print printing house.
IM enters the book market
Moscow, October 16 -- Independent media, Russia's leading glossy magazine and newspaper publisher, has acquired a 50% stake in Alpina Business Books, a book publisher specializing in management and finance literature.
The partners will expand Alpina's operation from 50 to 150 book titles annually within two years, to make it Russia's biggest business book publisher.
Alexei Ilyin, Alpina's co-founder and general director, will continue
running the company with the existing management team. "We have found a very strong strategic partner, and we can now grow even faster", says Ilyin. Alpina has put out such bestsellers as "Only The Paranoid Survive" by Andrew Grove, "Made in America" by Sam Walton, "Statecraft" by Margaret Thatcher, "How to Become CEO" by Jeffrey Fox and "Kotler on Marketing" by Philip Kotler. The company is working with the world's best-known book publishers and agents, including Wiley&Sons, McGraw-Hill, Warner Books, Simon&Schuster, Pearson and Andrew Nurnberg Literary Agency. Alpina has shown a dynamic growth in the past two years, doubling the number of its titles.
"Alpina is one of the most professional book publishers on the market, and together we will achieve even better results", says CEO of Independent Media Derk Sauer. "There are some obvious synergies in promotion and sales that we will realize".
Alpina will use Vedomosti and The Moscow Times, which cater for Russia's business community, to promote its books. Alpina and Independent Media's newspapers will share their customer databases.
