Swedish media group eyes Russian broadcaster

Published on .

European communications group Modern Times (MTG), based in Stockholm, has signaled its intent to enter the Russian market.

The company is considering a takeover bid for Moscow-based commercial TV channel NTV, which is owned by Media-Most group, which in turn is owned by the Russian financier Vladimir Gusinski.

"We are certainly interested in Russia, and now is a good time to purchase TV assets in Russia. NTV is among the TV channels we are looking at," said MTG CEO Hans-Holger Albrecht.

Media-Most has charged Deutsche Bank in Frankfurt with the task of finding a buyer for a 25 percent equity stake in NTV. However, MTG chiefs are eager to acquire majority control in a Russian TV channel and may not settle for a minority stake.

Copyright December 2000, Crain Communications Inc.

Most Popular
In this article: