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Magnum Photos takes outside investment for modernisation and innovation strategy

USA. Baltimore, MD. October 31, 1964. Dr. Martin Luther King, Jr. being greeted on his return to the US after receiving the Nobel Peace Prize.
@Leonard Freed/Magnum Photos

Magnum Photos have welcomed their first outside investment which will allow the agency to ‘take advantage of new editorial and commercial opportunities afforded by digital technology’.
The agency announced the investment this week forming a new subsidiary called Magnum Global Ventures (MGV) which will be majority owned by the Magnum cooperative alongside the two new investors, Nicole Junkermann and Jörg Mohaupt. The new subsidiary will manage and control all of the agency’s assets. Members of the cooperative continue to have full control over their intellectual property, including copyright of all imagery, and over the admission of new members.

ARGENTINA. Buenos Aires. 1999. The Necklace.  © Alessandra Sanguinetti/ Magnum Photos

Magnum say:  ‘Over the last three years, the iconic photographic cooperative has invested heavily in digital and content development. The capital injection and global expertise of its new investors will allow the agency to take advantage of new editorial and commercial opportunities afforded by digital technology.’
‘The two investors, Nicole Junkermann and Jörg Mohaupt, will invest in a newly created subsidiary, Magnum Global Ventures (MGV), which will lead the agency’s modernisation and innovation strategy.’

David Kogan, CEO of Magnum Photos commented: “Magnum Photos celebrates its 70th anniversary with the creation of a company that allows us to plan for the future. We are already creating new opportunities for the photographers and the business of Magnum. “Our two new investors have stellar backgrounds in the global sectors of media, music, intellectual property and technology. We welcome them for their expertise and know that they can add a huge amount to the development of the agency.”

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