| The magazine bought its own shares from Prof-Media For the first time, a publication appeared on the Russian media market that was entirely owned by the journalists and managers working in it. Yesterday, representatives of Expert magazine announced the completion of a transaction to buy out a 41.5% stake from the Prof-Media holding. “Today, 100% of the shares belong to the team,” said Alexander Privalov, General Director of Expert. “I don’t know of any other case where a national magazine has such an ownership structure.” However, it would be more accurate to say it a little differently: no one has previously been able to prove that the trend observed in the market since the early 90s can be reversed.
Let us recall that the overwhelming majority of publications that have existed since Soviet times and at one time distributed shares among journalists failed to retain controlling stakes with the workforce. And even more so, until yesterday there were none of these among the new media created with the support of financial and industrial groups. “Expert,” which was initially prepared by a group of journalists who left Kommersant with money from the current head of the Interros holding, Vladimir Potanin, managed in less than ten years not only to prove its viability, but also to achieve complete independence from the sponsor. Although the managers of Expert speak of Mr. Potanin with gratitude for the fact that he “gave money only for names,” and claim that there were no frictions with shareholders regarding the content of the magazine.
Alexander Privalov explained the desire for independence with different views on the development strategy of the magazine with the shareholders of the Prof-Media publishing house. “Publishing activity is by no means the only one we have now,” he said. “We have an analytical center, a rating agency, a marketing agency.” It is these related areas, according to the magazine’s managers, that will develop most dynamically, and it is here that the greatest increase in income is planned.
In turn, the head of Prof-Media, Rafael Akopov, spoke about parting with Expert with regret, because, according to him, this magazine would look good paired with Izvestia, which belongs to the holding. “However, based on the magazine’s development strategy, it became clear that Expert should remain with one shareholder,” he explained. - The idea was this: either they will buy our package, or we will buy theirs. But taking into account Vladimir Potanin’s wishes, they had the right of first offer.”
Now that, according to Mr. Akopov, “the sale is over,” Prof-Media intends to use the money received from the deal to “expand its presence in the newspaper segment.” And he immediately answered the question he asked himself about the possibility of selling Izvestia: “These are rumors, no negotiations are underway.” However, he recovered immediately. “We sell everything for the right money,” said Rafael Akopov. “And there is no need to say that neither Izvestia nor Komsomolskaya Pravda will ever be sold.” Irina BELASHEVA |
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