Russian YUTV for sale?
October 7, 2013 11.43 Europe/London By Chris Dziadul
YuThe Russian TV media group YUTV is understood to be up for sale.
According to Vedomosti, several media companies have been formally approached since mid-summer, with the investment bank VTB Capital likely to oversee any transaction.
YUTV was formed as recently as 2010 by the merger of asssets of Media-1 and AF media Holding groups, owned by Alisher Usmanov and Ivan Tavrin respectively.
There are apparently two reasons behind the proposed sale of YUTV, which operates a portfolio of channels and had revenues of R4.5 billion (Ä103 million) last year.
The first is Tavrinís appointment as CEO of MegaFon and his desire to now completely focus on the latter.
The second is the general slowdown in the Russian TV market.