However, Next Gen's own press release sheds a little more light on the purchase. It is actually Emap Publishing (Nederland) B. V.which has acquired a 40.1% stake. Next Gen already licenses two titles from Emap - CAR INDIA and FHM India.
Commenting on the tie-up, H.S.Billimoria, Chief Executive Officer, Next Gen Publishing said "The entry of Emap as a partner throws open vast opportunities for Next Gen to become a leading media group in the country."
About Next Gen Publishing Ltd.
Next Gen Publishing Ltd. (Next Gen ) was setup jointly by the Forbes Group and HDFC Limited to offer the best in the field of publishing through niche / special interest magazines and business directories. Next Gen aims to become a leading content generation company across media platforms.
Current product portfolio -
Smart Photography, India's No.1 imaging magazine
Car India & Bike India for automobile enthusiasts
Computer Active, a jargon-free magazine for all computer users
Commercial Vehicle, exclusively for the heavy automotive and truck industry
The Ideal Home And Garden for young homemakers
Forbes Yellow Pages, India's fastest growing Yellow Pages in Ahmedabad, New Delhi & Mumbai.