Finland's Sanoma Withdraws from Bulgarian Market
Finnish media company Sanoma announced it has sold its stake in Sanoma Bliasak Bulgaria to its joint venture partner, the Drumev family.
The transaction marks the departure of Sanoma from the Bulgarian market.
The divestment is in line with Sanoma’s strategy to focus its operations and divest selected ownerships, says a short statement of the company, published on its official site.
Sanoma Bliasak's portfolio features among others Cosmopolitan, National Geographic and Harper's Bazaar, as well as websites and a book publishing programme.
Sanoma Bliasak Bulgaria plans to keep all products on the market.
Cosmopolitan, the world's most popular magazine among young women, was launched on the Bulgarian market with Bulgarian-language issue in April 2004 shortly after Sanoma Bliasak Bulgaria AD founded.
Sanoma Bliasak Bulgaria AD was set up after Sanoma Magazines International (SMI), a part of Finnish SanomaWSOY Group, acquired 50% of Bliasak Media OOD.
Cosmopolitan Bulgaria continued the philosophy of the Cosmopolitan brand worldwide, keeping its distinct message, precise editorial focus on romance, beauty fashion, relationships, friends, in-depth articles on celebrities and an editorial voice that connects to the readers on an emotional level.
Bulgaria was the 50th country to see the international edition of Cosmopolitan launched on its market.
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