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: Emap Plc buys 40% stake in Next Gen Publishing for Rs 30 crore

06-July-2007
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: Emap Plc buys 40% stake in Next Gen Publishing for Rs 30 crore

Emap Publishing, a subsidiary of Emap Plc which is a multiplatform media group with a portfolio of over 200 brands, has entered an alliance with Mumbai-based Next Gen Publishing Ltd. Next Gen Publishing Ltd is a venture of the Forbes Gokak Ltd and HDFC Ltd, and publishes special interest titles including ‘Car’, ‘Bike’ and ‘Forbes Yellow Pages’. Post-alliance, Emap will acquire 40.1 per cent in shares in Next Gen.

The partnership translates into a FDI of more than Rs 30 crores. It is learnt that Next Gen would fund for Emap’s expansion plans, including the launch of new titles. The Mumbai-based company already publishes one of Emap’s best selling titles ‘Car’, and is slated to launch another title ‘FHM’, which is a men’s magazine.

Commenting on the tie-up, HS Billimoria, Chief Executive Officer, Next Gen Publishing, said, “The entry of Emap as a partner throws open vast opportunities for Next Gen to become a leading media group in the country.”

With a market cap in excess of GBP 1.8 billion, Emap Plc is a dominant publishing company in Europe across radio, events, television and digital media segments. The company drives business-to-business events, publications and information products. Besides, it owns the Cannes Film Festival property and is the name behind some of UK’s most popular radio channels. Emap also has significant presence on TV and online media across B2C and B2B spaces.

Next Gen also publishes five other titles across a range of special interest segments.

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