Modern Times Group (MTG) may sell its stake in the DTH platform Raduga TV now that President Putin has signed off controversial legislation limiting foreign ownership in Russian media companies to 20%.
Speaking to Broadband TV News, Per Lorenz, head of group public relations at MTG, said the company is exploring all options available to it.
Meanwhile, Interfax has reported that the Federal Antimonopoly Service (FAS) has given the green light for Digital Broadcasting, which is owned by Sistema Mass Media, to acquire 100% of DalGeoKom (Raduga TV). A source told the agency that Digital Broadcasting is considering the purchase of Raduga TV as part of the satellite broadcasting strategy of the AFK Sistema group of companies but that no decision has yet been made.
Interestingly, another Sistema group member – MTS, a leading mobile company and pay-TV provider – is also eyeing Raduga TV. It was expected to launch its own DTH platform recently but it is has yet to make its debut.
Raduga TV is currently jointly (50%) owned by MTG and Continental Media.
The change in the law will also affect CTC Media, in which MTG owns a 37.9% stake.
In a statement on the company’s website, Jørgen Madsen Lindemann, MTG president and CEO, said: “This is obviously a complex situation and we are working closely with local management and our advisers to review the various options available to us moving forward. It is too early to come with a solution for each of the affected businesses, but we are looking at a range of potential outcomes. We have built up these entertainment businesses over 20 years and the channels are some of the most watched in Russia, so we will do all that we can to preserve the interests of all of our stakeholders.”
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