Axel Springer sells its Russian media assets

Under the new law, foreign investment in Russian media is limited to 20 percent. Source: Vladimir Vyatkin / RIA Novosti

Russia's Artcom Media has acquired the Russian media assets of Alex Springer.

Artcom Media, part of the ACMG media group, announced the acquisition of Axel Springer Russia in a statement received by Interfax on Sept.17.

It specifies that the company's portfolio includes Forbes, OKEY!, GEO and others.

The statement does not disclose financial details of the deal.

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