The cooperation in magazines publishing between Sanoma Magazines International, Gruner-Jahr, and Styria is ready to begin now that all necessary antitrust approvals have been received. Magazines publishers Sanoma Magazines International, Gruner + Jahr, and Styria Media aim now to bundle their respective business operations in the Adriatic region, i.e. in Croatia, Slovenia, and Serbia and Montenegro. For this, Sanoma Magazines and Gruner + Jahr will establish a 50-50 joint venture called Adria Magazines Holding, Styria will act as a partner of the joint venture and hold shares of the local companies
Sanoma Magazines International is part of magazines division of SanomaWSOY, Sanoma Magazines. SanomaWSOY announced the Letter of Intent on the cooperation on December 21, 2005.
Stock Exchange Release: Publishing houses Sanoma Magazines International, Gruner + Jahr, and Styria intend to join forces in the Adriatic Region.
Read more: http://www.sanomamagazines-int.com (News section)