Potanin buys Rambler Media

translator — Tue, 14 Nov 2006 22:52:29 +0300

On 30 October, the Prof-Media holding announced the acquisition of 48.8 percent of the shares in Rambler Media Limited and concluded an agreement on the acquisition of a further 6 percent after the approval of the Russian antimonopoly authority. The Prof-Media holding, controlled by Vladimir Potanin is one of the largest of Russia's media structures. It contains the publishing houses Afisha and Komsomolskaya Pravda, several FM radio stations, including Avtoradio, and the Central Partnership film company. Early last week Rambler sold its loss-making television division Rambler TV to Prof-Media for 23 million dollars. Prof-Media General Director Raphael Akopov declared that, as a strategic investor, Prof Media plans to take Rambler to a new level of development, including "the use of mergers and acquisitions".

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Potanin buys Rambler Media