MTG denies Raduga TV sale

November 28, 2013 12.01 Europe/London By Chris Dziadul

mtg-logo-landscapeModern Times Group (MTG) has issued a categorical denial that it is in talks to sell its 50% stake in the Russian DTH platform Raduga TV.

In a statement provided to Broadband TV News, Per Lorentz, group head of PR, MTG, said: “We are fully committed to Raduga and we are in no discussions about selling the asset”.

Earlier this week, Roskomnadzor announced that Raduga TV is operating without a licence and there are “substantial grounds” for initiating criminal proceedings against it.

Since then, the Russian media has carried reports that MTG is in talks with both Tricolor TV and Orion Express, the country’s two leading DTH platforms, about a possible sale.

Raduga TV was launched in 2009 and is jointly owned by MTG and Continental Media S.A.

MTG has had a strong involvement in Russia for many years.

Besides its 50% stake in Raduga TV, it is the largest shareholder in the national commercial broadcaster CTC Media.

A broad range of Viasat pay-TV channels are also distributed in the country.