Independent Media buys stake in publishing house

The news and publishing house Independent Media has acquired a 50-percent stake in Alpina Business Books, a publishing house specializing in business editions, the corporate strategic marketing department of Independent media reported. The newly established partners plan to increase the number of offered books by three times over the next two years, from 50 to 150 items a year. Alpina Business Books is expected to use resources of Independent Media for promoting its books, namely through the Vedomosti and Moscow Times newspapers.

Independent Media was established in 1992. It publishes such famous magazines as Cosmopolitan, Harper`s Bazaar and Men's Health, the newspapers Moscow Times, St. Petersburg Times and Vedomosti (the latter in cooperation with the Financial Times and the Wall Street Journal).