Japanese media giant enters Turkish market
Nikkei Business Publications President and CEO Kohei Osada signs partnership agreement in Istanbul.Japan Nikkei Business Publications has acquired an 80 percent stake in Turkish publishing group Mutlu Dergi Grubu (MDG), becoming the first Japanese company to enter the Turkish media sector.
MDG founder Zafer Mutlu and Nikkei Business Publications President and CEO Kohei Osada announced the acquisition during a press meeting in Istanbul yesterday, marking Nikkei’s entry into the publishing market in Turkey, a statement released by the companies said.
MDG will now be known as NIKKEI-Mutlu Dergi Grubu with the headquarters to be located in Istanbul, the press release said.
Mutlu will be the president and CEO in the new company, while Osada will serve as the chairman of the board. At the same time, Nikkei BP will assign a person for the executive vice president position.
Established in 2003, MDG has concluded licensing partnerships with Time Inc. of the U.S. and other notable publishers, releasing the Turkish editions of the Fortune business magazine and the fashion/lifestyle magazines InStyle and Martha Stewart Weddings among other popular periodicals.
Including Nikkei’s flagship daily newspaper, The Nikkei, the five newspapers company publishes form the cornerstone of its operations. Nikkei is also active in a diverse range of areas, from digital media to book and magazine publishing to broadcasting. In the pursuit of growth opportunities, the group continues to expand into new arenas.