The remaining 21.25 per cent will continue to be held by Prakash Johari, the Group’s founder. Johari will continue to function as the chief executive and managing director of the company.
Torsten-Jörn Klein, executive board member and president, Gruner & Jahr International, said: “We are the second largest magazine publisher in China. We are looking at investing in emerging markets and India offers huge opportunities. We believe MaXposure with its broad portfolio and strong management team is the ideal platform for growth in the publishing sector. We want to be a major player here and will support the development of MaXposure through our international expertise.”
G&J plans to launch new products both in the consumer and corporate publishing segments over the next two year.
“We will launch new products beside expanding presence on online and mobile platforms. G&J and other international brands we are associated with can be introduced in India in the coming months.”
Gruner & Jahr has around 13,300 employees and reaches readers and users with more than 500 magazines and digital offerings in over 30 countries. The offerings include both consumer as well as corporate media.
In 2010 Gruner & Jahr achieved revenues of Euro 2.55 billion, with 54 per cent of revenues generated from outside Germany. Gruner & Jahr is part of the Bertelsmann Group, one of the world’s largest media conglomerates. MaXposure publishes upscale consumer magazines, including Andpersand (lifestyle), FHM (men), Estetica (beauty and cosmetics) and Diabetic Living (health).
MaXposure is among India’s top three players in the corporate publishing segment producing, among others, in-flight magazines for India’s national carrier Air India and for budget carrier Spicejet, as well as for customer magazines for Mercedes Benz, Nissan and ICICI Prudential.