Hearst magazines buys into Dutch publisher

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AMSTERDAM--Hearst Magazines International has acquired a 25% stake in Dutch publishing firm Readershouse Magazines BV as part of its strategy to expand by taking equity positions in magazine publishers around the world.

Readershouse publishes four magazines: Esquire (Holland), car journal Carros, travel magazine En France and Onze Wereld featuring news from developing countries. Its principal offices are in Amsterdam.

"This is a reflection of our plan to move beyond joint ventures and other forms of partnerships into ownership of equity interests in publishing companies," says George Green, HMI president. "This arrangement gives Hearst a base of successful existing magazines as well as the opportunity to grow in new markets in the future."

Last year, HMI acquired 25% of Turkish publisher Bir Numara Yayincilik A.S., and in 1997 it bought 50% of Taiwanese publisher Hwa Ker.

HMI publishes 95 magazines in 22 languages that are distributed in more than 100 countries. It is part of Hearst Magazines, a unit of The Hearst Corporation. It claims a monthly readership of 26 million.

Copyright January 1999, Crain Communications Inc.

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