AZ Medien Gruppe Managing Director Bodo Hombach said in an interview with German weekly magazine Wirtschaftswoche that the Germany-based company intends to continue expanding into the Russian market, gipp.ru reported Tuesday.

Last year, the group launched local newspaper Sloboda (which translates as "freedom word") in Tula, Russia, as well as three regional editions of title Rodnoi Gorod, Hombach said.

The firm will be launching four new projects per year, according to gipp.ru.

WAZ Medien Gruppe currently publishes 11 daily papers across Germany including Wastdeutsche Allgemeine Zeitung and Westfaelische Rundschau, which have individual circulation of a million copies.

The company also owns publisher Westdeutscher Zeitschriften-Verlag, which has titles Neue Welt and Frau im Spiegel under its belt. In addition, the group has initiatives in Serbia, Croatia, Macedonia, Bulgaria, Romania and Hungary.