Tokyo-based B2B magazine media company Nikkei, has acquired a minority stake in global business and culture media brand Monocle, reports Folio.
The deal is said to value the brand at US$100m, although Nikkei’s stake has not been specified. Monocle chairman and editor-in-chief Tyler Brûlé’s holding company Winkontent now owns about 80 per cent of the company.
Monocle will have access to Nikkei’s editorial operation and Nikkei can tap into Monocle’s distribution for its English-language weekly, the Nikkei Asian Review. Likewise, Nikkei’s magazine group will help market Monocle in Japan.
Nikkei president and CEO Tsuneo Kita cited “global reach” as one perk of the deal, while Brûlé said, “Given Nikkei’s editorial reach, there are many areas where we can work with Nikkei correspondents to strengthen our coverage in various regions while also supporting the Nikkei Asian Review via Monocle’s established distribution networks.”