South Africa's Media24 has increased its presence in Kenya's publishing industry with the takeover of East Africa Magazines, the publisher of True Love, Drum and Move! magazines.

The deal gives Media24 full control of the publishing firm that it has co-owned with the Nation Media Group (NMG), East Africa's largest media house. Media24 previously held a 49 per cent stake in EAM, leaving NMG with the controlling 51 per cent stake.

Media24's takeover of EAM comes just two weeks after the publisher discontinued the publication of two titles: Adam, a men's magazine and a travel and tour magazine Twende.

The titles were suspended as production costs escalated and advertising and circulation shrunk in what the company attributed to the global economic contraction.

Source: AllAfrica.com