Gruner + Jahr does business in Serbia through a joint venture between Sanoma Magazines International (SMI) and Styria Media. The Adria Magazines Holding (AMH) is a 50-50 joint venture between SMI and G+J. Styria Media is a partner to the joint venture and owns stakes in AMH´s regional subsidiaries (25 percent each in Croatia and Slovenia, 10 percent in Serbia-Montenegro).

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