Nikkei Business Publications closes Turkish investment MDG after 3 years
Japanese media publisher Nikkei Business Publications (Nikkei BP) last week closed its Turkish subsidiary, NIKKEI-Mutlu Dergi Grubu, which provided print and digital publishing services. Nikkei BP had acquired Turkish media house Mutlu Dergi Grubu (MDG) in June 2014, which marked the first time a Japanese media publisher had acquired a Turkish company. The group had been publishing print magazines and websites that provided content on fashion, beauty, decoration, health, automobiles, celebrities, sports, technology, entertainment and relationships. The group magazines are expected to cease publication, while Fortune, InStyle and InStyle Home magazines will be published by Group Medya, which acquired the rights from Time Inc. Zafer Mutlu, founder of
MDG was president and CEO, and Nikkei BP president and CEO Kohei Osada served as chairman of the board. Nikkei BP publishes 35 magazines and has 15 digital media companies that provide content on computers, electronics, architecture, medicine and health. The company, established in 1969, is a subsidiary of Nikkei Inc and based in Tokyo, Japan.