Japanese media firm Nikkei has bought a 5 per cent stake in Monocle, the London-based global affairs magazine, a deal that values the publication at over US$100 million (S$125 million).
Nikkei chief executive Tsuneo Kita said that under the leadership of Monocle chairman Tyler Brule, the magazine has grown rapidly to boast a core readership of thought leaders around the world.
"Through this wide-reaching partnership, the Nikkei Group will be able to further boost its global reach," he added.
The two firms said in a joint statement yesterday that they see immediate opportunities to bolster their positions on news- stands across Asia.
"This is the perfect partnership for Monocle," said Mr Brule.
"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."
Nikkei launched the Nikkei Asian Review magazine last year to offer economic and business news and insights from an Asian perspective.
It is available across the world, both online and in print.
Monocle, which has a business model combining print, broadcast, retail, e-commerce and books, is sold on news-stands and has subscriptions in over 100 markets worldwide.
Through sharing international news-stand and subscription intelligence, both brands aim to grow their global presence even further, the firms said.
Mr Brule's holding company Winkontent retains over 80 per cent of Monocle, while founding shareholders from Switzerland and Sweden hold the remaining stake.
This article was first published on September 03, 2014.
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