Russian Channel One ownership confirmed
By Chris Dziadul
Published: November 3, 2010 07.43 Europe/London

Roman Abramovich has been officially confirmed as the 49% owner of Channel One, Russia’s leading broadcaster.

In a wide ranging interview in Kommersant, John Mann, the head of information policy at Millhouse, Abramovich’s asset manager, went on record to clear up confusion caused by a report in the newspaper Vedomosti.

According to Mann, the 49% stake in ORT was bought on behalf of Abramovich from Boris Berezovsky for $175 million (€125.3 million) in 2001. Berezovsky is currently suing Abramovich, claiming that he was underpaid for the asset.

Mann revealed that Abramovich had received dividends totalling R113,66 million (€2.64 million) from Channel One between 2004-7.

He also denied that there are any plans to sell the 49% stake in Channel One.