MOSCOW, August 6 (RAPSI) - Russia’s Federal Antimonopoly Service (FAS) has blocked preliminary approval of a deal between Hearst Communications and Finland’s Sanoma Independent Media with respect to several magazines published in Russia, according to the watchdog’s statement.

In an FAS statement it is noted that the decision was based on the conclusions of the Government Commission for the Oversight of Foreign Investment in Russia.

As earlier reported, in March 2015, the government commission postponed the purchase of Sanoma’s Russian magazines by Hearst Communications. The Ministry of Communications and Mass Media also reacted negatively to the deal.

US holding Hearst Communications filed a petition to buy 50% of Fashion Press, the publisher of Cosmopolitan, Harper’s Bazaar and Esquire as well as Populyarnaya Mekhanika, Domashny Ochag, Vkusno I Polezno and Robb Report, from Sanoma back in January. So far, Fashion Press is owned on a parity basis.

Sanoma Independent Media (SIM) was founded by a group of Dutch investors led by Derk Sauer in March 1992. SIM’s portfolio includes over 50 media outlets and projects. Since 2005, SIM has been part of Sanoma, a leading European media holding. Apart from Fashion Press, SIM comprises United Press (National Geographic, Men’s Health), Business News Media (Vedomosti) and Mondadori Independent Media (Grazia).