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November 8, 2017updated 09 Nov 2017 6:04pm

Thai property developer pays $6m for minority stake in Monocle ahead of Asian expansion for title

By Dominic Ponsford

Thailand’s Sansiri group has taken a stake in monthly international lifestyle magazine Monocle.

The Thai property developer has paid $6m for a 12.5 per cent stake in Monocle in a deal which values the title at $47m (£36m).

When Nikkei took a  2.8 per cent stake in Monocle in 2014 the group was valued at £70m.

Monocle has a circulation of around 80,000 and also has an online radio station, book publishing and retail division.

Before the Sansiri investment, the holding company of editor-in-chief Tyler Brûlé owned 80 per cent of Monocle.

Brûlé said: “We have a bold plan to expand in the Asian market and connect people with discerning taste to our over-expanding media channels. Sansiri’s invesment will allow is to pursue our ideas with confidence and ambition.”

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Monocle has an editorial team of 55 and the magazine is largely reliant on sponsored content for its advertising revenue.

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