Shortlist Media, publisher of free magazines Shortlist and Stylist, is planning to launch its first international edition in Russia.

Founder and chief executive Mike Soutar said yesterday his company hoped to make an announcement later in the year - but he would not reveal the name of the likely partner organisation for the first foreign-licensed edition.

Soutar told the Paywalls Strategies Conference that Shortlist Media, which relies entirely on money brought it through advertising, was on target to generate revenue of £15.3m in 2010/2011.

During an address to the conference, Soutar displayed slides showing that his company made £11.2m in the last financial year and £5.7m in 2008/2009.

Full story at the Press Gazette.