Russia’s businessman Alisher Usmanov added another 33 percent to his stake of 50 percent in Sport Channel 7TV.
Photo: Konstantin Melnitsky
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Sport Is of Great Interest to Usmanov
Russia’s businessman Alisher Usmanov has added another 33 percent to his 50 percent in 7TV. He will be the sole holder of 7TV by this year-end, once he buys out the remaining 17 percent from Moscow Regional Trust Company. The analysts say Usmanov’s investments are well-justified – the worth of 7TV has grown from $100 million to between $180 million and $200 million during two years. At the same time, they emphasize the need to drop the sport broadcasting concept of 7TV to widen the audience share and fuel ad revenues.
The fact that Gazprominvestholding GD Alisher Usmanov closed in early May the deal for buying out 33 percent in Sport Channel 7 TV from Moscow Regional Trust Company (owned by the Moscow region by 100 percent) was leaked by a source close to AF Media Holding that acquired the stake. AF Media Holding manages TV assets of Usmanov, Muz-TV and 7TV.
7TV General Director Ruben Oganesov confirmed the information. “Mr Usmanov will extend the stake to 100 percent by this year-end,” a source said. The parties haven’t disclosed the deal budget. People in IK Finam estimated the current worth of the TV channel at $180 million to $200 million.
Given the shortage of independent TV assets in Russia, this estimate appears quite adequate, said a top manager of a media company. STS Media (STS and Domachny netwoks) bought out from Sweden Modern Times Group the last so-called independent channel, DTV, for $395 million in March.
Sport Channel 7TV broadcasts at its own frequencies under the contracts with regional channels in more than 500 cities and towns of Russia. It is at the very bottom of the list of all air TV channels in terms of the audience share. According to TNS Gallup Media, its share averaged 0.25 percent from April 1 to 30 and revenues are estimated at $20 million to $25 million for 2008.
Having widened the stake, Usmanov won’t change the concept of 7TV. The channel will remain the sport one, Oganesov specified.
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All the Article in Russian as of May 20, 2008
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