Abramovich switched

VTB Capital redeemed 20% of Channel One’s shares from the company of Roman Abramovich “ORT-KB”. Last summer, in order to fulfill the requirements of the media law, the oligarch sold another 4% of the national media group. After a new deal, he got rid of the entire package. Now 20% of the shares belong to VTB, another 29% control the structures of NMG, and the control package is in the hands of the state.

Recall that “Channel One” (until 2002 - public Russian television) began broadcasting in April 1995 and became the successor to the State Television and Radio Company “Ostankino”, which was the main broadcaster in the USSR. According to the SPARK base, at the end of 2017, the revenue of Channel One amounted to 31 billion rubles, and the company's losses were estimated at 1.56 billion.

Channel One Studios building / AGN "Moscow" / Photo: Lyubimov Andrey

Abramovich became a co-owner of ORT in the early 2000s, having bought 49% of Boris Berezovsky for $ 150 million. Ten years later, a billionaire began to reduce his share: in 2010, he sold half of his NMG package for $ 145 million. Last August, the businessman received Israeli citizenship and sold 4% due to the requirements of Russian legislation, which prohibits foreigners and persons with dual citizenship own more than 20% in the founder of the Russian media. Now the remaining assets are sold.

The fact that the transaction was closed on March 6, the head of VTB Andrei Kostin told Interfax today. The representative of Channel One and the representative of Abramovich John Mann also confirmed this information. This means that the largest shareholders of Channel One are a Federal Property Management Agency with 38.9% and the National Media group with 29% of the shares, 20% of VTB has departed, another 9.1% is in the hands of the ITAR-TASS FSUE, and 3% have FSUE TTC Ostankino. None of the parties reported the terms of the transaction.

“Channel One” will become the second media project where VTB and NMG are partners. Their consortium belongs to 75% of STS Media (controls the entertainment channels of the STS, “Home”, “Che”, STS Love and STS KID). Another 25% of the media holding belong to the Cyprus company Telcrest, whose shareholders are also the NMG, VTB and the structures of the owner of Severstal Alexei Mordashov.

Alexey Mordashov / TVC.ru

The VTB report says that the Channel Channel Promotions Transaction is a “part of the successful group of direct investment of the group”, including the media segment. The bank considers the share in Goskanal an attractive asset, added the first deputy president of VTB Yuri Solovyov. "Channel One" has a tremendous position in the market. And the digital transformation of the media opens up new opportunities for the television channel, and we believe in the success of management efforts in the further digitalization of the channel and the development of digital content, ” said Soloviev.

Together with Russia 1 (owns VGTRK) and NTV (Gazprom-Media), Channel One is one of the three most popular channels in the country. Recall that at the end of 2018, Roman Abramovich became blacklisted by the Prime Minister of Great Britain Teresa May.