Muz TV, one of Russia’s longest established music channels, may soon find itself under new ownership.

Quoting a source in the music market and one close to the asset, Vedomosti reports that Kremlin Media is prepared to buy the channel from YUTV for $20 million and to cover its debts.

Kremlin Media was established in 2013.

A production company, it is referred to as a ‘patriotic holding’ and any TV channels in its portfolio could in future be given priority when distributed by cable operators.