Tokyo – June 2, 2014 – Nikkei Business Publications (President & CEO: Kohei Osada; Tokyo) announced its acquisition of the Turkish media house Mutlu Dergi Grubu A.S. (MDG) to embark on the publishing market in Turkey. The news was released today during the joint press conference organized by the Nikkei BP President & CEO Kohei Osada and the MDG founder Zafer Mutlu in Istanbul, Turkey. Nikkei BP acquires 80% of equity and obtains a controlling interest in the new company. MDG is renamed to NIKKEI-Mutlu Dergi Grubu A.S. (NIKKEI-MDG) with the headquarters located in Istanbul. Mr. Mutlu assumes the President & CEO role in the new company, and Mr. Osada serves as the Chairman of the Board, while Nikkei BP assigning its personnel as the resident Executive Vice-President holding the right to represent NIKKEI-MDG in Istanbul. This is the very first time for a Japanese media publisher to acquire a Turkish company.
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. Following the acquisition, Nikkei BP succeeds these existing businesses while also enhancing digital publishing projects. The new company also eyes to provide professional technology news on healthcare and construction, where Nikkei BP has its fortes, as well as actively organizing seminars and events to diversify the areas of business. The new NIKKEI-MDG President Mr. Mutlu is a key figure in the Turkish media industry, who has been also involved in management of a major newspaper and a private university.
With the population of roughly 76 million and its per capita GDP exceeding 10,000 USD, Turkey is drawing global attention as a new emerging market. Over the recent years, Japanese companies are also expanding their business one after another in the country.
Nikkei BP’s President & CEO Kohei Osada said, “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. I would like to thank Mr. Ilker Ayci, President of Investment Support and Promotion Agency (ISPAT), and his team for their supportive advices and contribution on this acquirement.”
Mr. Zafer Mutlu commented, “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.”
For further details, please contact:
Global Business Development Office
This press release may contain forward-looking statements that reflect the company's current views with respect to future events and business performance. Those forward-looking statements are subject to certain risks and uncertainties and the company's actual results could differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, among other factors, general business and economic conditions, rapid or unexpected changes in technologies, cancellation or delay of customer orders.
Nikkei Business Publications is part of The Nikkei group, which has newspaper publication as its main business and three additional business divisions of digital media, publishing and broadcasting under its umbrella. Covering a wide variety of specialized areas including business, computer, electronics, construction, services and medicine, Nikkei Business Publications, in July 2008, merged with its sister company, Nikkei Home Publishing, to also bring consumer magazines into its portfolio.