Russian TV Center assesses progress
April 17, 2012 11.05 Europe/London By Chris Dziadul

There are at present no plans for a change of ownership at the Moscow-based station TV Center, according to its general director Alexander Ponomarev.

Speaking to Kommersant, he added at that TV Center is now a profitable operation, in contrast to that in 2006, when it was burdened with debts of R224 million (5.77 million) which it has since been able to repay.

Over that period, its net assets have increased from R1.3 billion to R4.1 billion.

Its ad revenues in 2011 were 18% higher than in the previous year and it was one of the first stations in the country to post higher ad revenues than in the pre-2008 crisis period.

However, its audience share, according to TNS Russia, fell from 3.4% in 2010 to 3.1% in 2011.

TV Center is owned by the Moscow City Government, whose other interests include Moscow 24.