A pioneering pay-TV service once seen as one of the most progressive in Russia can now not even find a buyer.
According to Comnews, the Russian Television and Broadcasting Network (RTRS) has decided not to hold an auction for the 50% stake it holds in Kosmos TV due to lack of interest.
The remaining 50% is held by AFK Sistema, and although it has a preferential right to become the sole owner of Kosmos TV has declined to take up the option.
Kosmos TV was launched in 1991 as a joint venture between the US’s Metromedia International Group and Moscow’s TV and radio transmission centre, which is part of RTRS.
Metromedia sold its stake to Sistema in 2003 and Kosmos TV stopped broadcasting in September 2012.