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MaXposure Media Group buys back stake from Gruner and Jahr

The founders of MaXposure Media Group have bought back their stake from Gruner + Jahr to become the sole owner of the company, reports The Economic Times.

The Johari Family, which started MaXposure in 2006, sold 78.75 per cent stake to Gruner + Jahr in 2011. The remaining 21.25 per cent was held by MaXposure's co-founder, Prakash Johari. 

"The Johari Family has bought back the business of MaXposure Media Group from Gruner + Jahr (the publishing division of European media conglomerate Bertelsmann) for an undisclosed amount," the company said in a statement. 

Sources said the deal is worth €5.25m (approx. Rs 40 crore). 

After the acquisition, MaXposure Media Group will solely be owned by the Johari family

Read the rest of this story at The Economic Times

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