Japanese publisher Nikkei Business Publications has announced its acquisition of Turkish media house Mutlu Dergi Grubu (MDG) to embark on the publishing market in Turkey. This marks the first time a Japanese media publisher has acquired a Turkish company.
The deal means Nikkei BP acquires 80 per cent of MDG’s equity and obtains a controlling interest in the new company. MDG has been renamed NIKKEI-Mutlu Dergi Grubu (NIKKEI-MDG) with the headquarters located in Istanbul.
Zafer Mutlu, founder of MDG assumes the president and CEO role in the new company, and Nikkei BP president and CEO Kohei Osada serves as chairman of the board.
MDG has licensing partnerships with Time Inc. and publishes the Turkish editions of Fortune, InStyle and Martha Stewart Weddings.
Said Osada: “The Turkish economy is expected to record continuous growth, so we see that the country has a potential demand for technology news media that we have developed over the years. Turkey is also located in a strategic position that can function as a hub for approaching the markets in Europe, Middle East, Africa and NIS/Central Asia. NIKKEI-MDG will serve as a platform for expanding our global business approach from Turkey, and we are eager to extend our reach to various fields of business.”
Mutlu added: “We expect our partnership with Nikkei BP, a trusted publisher of business, management and technology news media, will generate synergetic effects with management resources of MDG. I am especially interested in the development of projects targeting technology sectors.”