Sergey Kozhevnikov, general director at Russian Media Group (RMG), right, and his wife Yekaterina attend the 10th Golden Gramophone Awards Ceremony held in the Kremlin December 2, 2005.
Photo: Valery Levitin
| Other Photos |
 |
|
 |
European Media Group to House at Seven Hills
European Media Group (or EMG) is expected today to announce the purchase of two radio stations of Moscow - Radio 7 on Seven Hills and Melodia and a St. Petersburg Eldoradio. The seller is Warburg Pincus Investment Fund. Having attained leadership on the broadcasting market of Russia, EMG may attempt to grasp control over the market of radio promotion in the next move.
EMG has confirmed the deal with Warburg Pincus but declined to elaborate or disclose the budget. It has paid at least $20 million for the stakes, said Sergey Kozhevnikov, general director at Russian Media Group (RMG).
Reinforced by three radio stations, EMG wins the leading standing on the radio market of Russia. So far, the French founder of EMG, Le Gardere, had majority stakes just in Europe Plus and Retro FM. Acquisition of three more stations makes it the second in station number (after RMG, which has six stations) and the first in audience. Of five stations possessed by EMG, three are in the top ten list of Russia. According to TNS Gallup, Europe Plus has the weekly audience of 2,258,200 (23.7 percent) in Moscow and 1,092,300 (25.9 percent) in St. Petersburg; Moscow Radio 7 on Seven Hills has 1,613,700 (17 percent) and St. Petersburg Eldoradio has 680,800 (16.2 percent). Only one station of RMG, Russian Radio with the Moscow audience of 2,692,700 (28.3 percent) and St. Petersburg audience of 1,090,200 (25.9 percent), is in the list of leaders.
Kozhevnikov said RMG had tried to buy out from Warburg Pincus some of the stations sold to the French but was rejected by Vladimir Pozner, whose aggregate ownership in three stations reached 19 percent. Pozner was against selling the Radio 7 to the Russians, Kozhevnikov specified.
Pozner completely refuted Kozhevnikov's words. "It is not just a lie, it is some barefaced lie," he said, singalling the feud has sparkled already.
www.kommersant.com
All the Article in Russian as of Mar. 10, 2006
|
|
|
