Disney to launch Russian network
Company to take 49% stake in joint venture
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The company, which already has a theatrical presence in the country, will push ahead with the network once it receives Russian federal monopoly commission approval for its joint venture with Ivan Tarvan’s Media-One TV, which runs channels in 30 of the country’s 89 regions.
Disney will have 49% of the new entity with Media-One controlling the majority share.
The size of the deal has raised eyebrows locally, where the economic downturn is predicted to slash advertising revenue this year by 30%.
The free-to-air channel will screen Disney programming and original Russian-made content.
Alexander Rodnyansky, president of CTC Media — which runs Russia’s fourth-biggest national network, entertainment channel CTC — told business daily Kommersant: “Today is the last opportunity to build a full-value national network in Russia.”
