Russia-based online news company Rugion has been acquired by Hearst Shuklev Media, a media company co-owned by publishing company Hearst Corporation and journalist Viktor Shuklev, according to East-West Digital News.
Financial terms of the transaction have not been disclosed, but the deal is reportedly worth approximately €20m ($22.6m).
Rugion operates a network of 42 regional news websites, and joins Hearst Shuklev’s existing group of such news providers, Ekaterinburg, Nizhny Nogorod, Perm, Samara, Sochi Express, and others.