As part of efforts to optimise its italian magazine portfolio, the Mondadori Group has reached two agreements regarding the future of its current joint ventures with Rodale Inc. and the Hearst Group.
As regards the joint venture Mondadori-Rodale, established in 2000 for the publication of Starbene and Men’s Health, Mondadori will buy the 50% of the share capital held by the American publisher Rodale Inc.
This will allow Mondadori to manage autonomously the monthly magazine Starbene, the leading women’s title in the health/wellbeing sector, while at the same time continuing the publication of the Italian edition of Men’s Health, thanks to a multi-year licensing contract.
Concerning the Hearst-Mondadori Editoriale partnership, Mondadori has reached an agreement with HMI International LLC for the acquisition, by the latter, of the 50% stake currently held by Mondadori.
This joint venture, set up by the partners in 1999, resulted a year later in the publication of the Italian edition of Cosmopolitan under licence from the Hearst Group.
“Both of these operations are part of efforts to optimise our portfolio,” declared Stefano De Alessandri, general manager of Magazines Italy, “and are in line with the aim of redefining, reinforcing and expanding Mondadori’s presence in women’s magazines.”