Burda Russia is currently considering various options for the existing 2016 corporate structure, said the representative of the German company Hubert Burda Media Bertold Heidbuchel. To comment further, he refused.
BERLIN, 13 Jan. Angelina Timofeeva. Burda Russia is considering options for changing the corporate structure from 2016, said Tuesday the official representative of the German company Hubert Burda Media Bertold Heidbuchel.
Previously, the Agency RBC reported that the publishing house Burda has launched a program to restructure its business in Russia because of legal restrictions. Taken a year ago amendments to the law “On mass media” prohibit foreigners from 2016 to own directly or indirectly more than 20% in the founder of any Russian media. According to the source RBC, the German publishing business will be transferred to a local Russian top Manager, with appropriate application, the company applied to the Federal Antimonopoly service.
“Burda Russia is currently considering various options for the existing 2016 corporate structure,” said Heidbuchel. To comment further, he refused.
Burda Russia is the largest Russian publishing house in terms of aggregate audience of, according to an industry report by the Federal Agency for press and mass communications with reference to the measurement of the research company TNS Russia. According to its figures for may — October of 2014, the number of readers of one issue of all journals produced was in excess of 16 million Russians over 12 years of age living in cities with the population from 100 thousand people.