One of the world?s largest media groups, Bertelsmann is set to enter the Rs 1,000-crore English magazine market in India. It will acquire control of the Delhi-based Maxposure Media Group which publishes lifestyle, fashion, beauty, entertainment, real estate and travel magazines.

The German group?s subsidiary Gruner+Jahr (G+J) International Magazines will buy 55% in Maxposure from its promoters, the Johari family for Euro 1.2 million (around Rs 7.6 crore). The deal values Maxposure at around Rs 14 crore.

Maxposure Media Group publications include Estetica (beauty and health care), Spice Route (SpiceJet?s in-flight magazine), men?s lifestyle magazine FHM, Beyond Luxury, Mumbai airport?s official magazine Touchdown, Mercedes-Benz India?s official publication Mercedesmagazine and ICICI Prudential?s magazine Elite Life.

G+J will also get access to West Asia as Maxposure operates in Gulf countries through its subsidiary MaXposure Middle East. Maxposure has a strong presence in the UAE, Qatar, Oman, Saudi Arabia and Kuwait. Estetica Middle East is published in English and Arabic and distributed across the region.

Bertelsmann holds around 75% stake in G+J, which also owns Brown Printing Company, a US publishing firm. G+J has already set up a wholly owned subsidiary in India.

G+J publishes over 500 magazines and newspapers in 30 countries, including Poland, Spain, Russia, France and the People’s Republic of China. Gruner + Jahr publications include the Financial Times Deutschland, National Geographic Deutschland and Brigitte, Capital. It has an employee strength of over 14,500 and gross profit of more than three billion euros.

G+J International Magazines has sought approval from the Foreign Investment Promotion Board (FIPB).

Currently up to 100% foreign investment is allowed in specialty and lifestyle magazines. Post FIPB approval, Johari family’s shareholding will go down to 45%, with three of its promoters holding 15% each. Currently, five entities including members of the Johari family own the Maxposure Media Group.

However, G+J’s acquisition may face some hurdles as it has a trademark licence agreement with Outlook Publishing which brings out the Indian edition of GEO, a specialty magazine on science and technology. However, G+J is confident its plans will not be affected because of safeguards embedded in the licence pact.

In 2009, G+J had set up an India subsidiary with an intention of launching a specialty magazine, Parents India, but could not do so, sources said.