Johari family Buys Back MaXposure Media Group from Gruner + Jahr

The Johari Family has bought back the business of MaXposure Media Group from Gruner + Jahr (the publishing division of European media conglomerate Bertelsmann) for an undisclosed amount.

While the financials of the deal remain undisclosed, market sources peg the buyback at 5.25 million Euros (Rs 40 crore).

Post the acquisition, MaXposure Media Group will solely be owned by the Johari Family.

After the announced exit from its Indian digital media unit Networkplay earlier, Gruner+Jahr is now fully exiting the Indian market through this transaction.

Prakash Johari is leading the company as managing director and CEO of MaXposure and would continue to do so, along with his brother Vikas Johari, who leads the creative departments as the publisher and COO.

Talking about his future plans, Prakash Johari, MD and CEO, MaXposure, says, "It's interesting that we got this opportunity to get back in the exciting media space with controlling interest at MaXposure. We learnt and grew significantly over the last three years under the guidance of Gruner + Jahr. We plan to realign the company's vision for the next three years under the new leadership and continue to expand our leading position in the corporate publishing space in India and enter foreign markets."

The Johari family started MaXposure in 2006 and scaled it to be one of the largest magazine publishers in India. MaXposure publishes over 30 magazines in the corporate and consumer space. It is the largest in-flight magazine publisher in the Indian subcontinent with in-flight magazines of Air India, Spicejet, Vistara.

Gruner + Jahr is a leading media group and offers nearly 500 magazines and digital offerings in over 30 countries.