Satdude
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RTL to expand Russian TV activities
RTL Group has signed an agreement with Luxembourg-based Continental Finance Group S.A. (CFG) to build up a joint venture for the production, operation and distribution of thematic, non-terrestrial TV channels in Russia and in the Commonwealth of Independent States (CIS).
According to the agreement, RTL Group will purchase 50 per cent of the shares of Content Union S.A. (CUSA) in which CFG already contributed its four own Russian thematic channels, called Russkiy Illusion (Russian movies), Illusion Plus (international classic movies), Detskiy (children's channel) and Zoo Park (wildlife channel). These channels are also distributed in the cable networks of Ukraine, Belarus, Kazakhstan, Moldova and Georgia. In addition, the joint venture will act as a distribution agent for third-party channels.
With the deal RTL Group will enter the Russian satellite and cable TV market, strengthening its presence in one of the world's fastest growing advertising markets. In 2005, RTL Group acquired a 30 per cent shareholding in the terrestrial TV network Ren TV which will continue to operate independently from the newly created joint venture.
Regards Satdude.
RTL Group has signed an agreement with Luxembourg-based Continental Finance Group S.A. (CFG) to build up a joint venture for the production, operation and distribution of thematic, non-terrestrial TV channels in Russia and in the Commonwealth of Independent States (CIS).
According to the agreement, RTL Group will purchase 50 per cent of the shares of Content Union S.A. (CUSA) in which CFG already contributed its four own Russian thematic channels, called Russkiy Illusion (Russian movies), Illusion Plus (international classic movies), Detskiy (children's channel) and Zoo Park (wildlife channel). These channels are also distributed in the cable networks of Ukraine, Belarus, Kazakhstan, Moldova and Georgia. In addition, the joint venture will act as a distribution agent for third-party channels.
With the deal RTL Group will enter the Russian satellite and cable TV market, strengthening its presence in one of the world's fastest growing advertising markets. In 2005, RTL Group acquired a 30 per cent shareholding in the terrestrial TV network Ren TV which will continue to operate independently from the newly created joint venture.
Regards Satdude.