Media Alliance Completes Deal To Buy Russian Turner Distribution Assets

Media Alliance Completes Deal To Buy Russian Turner Distribution Assets

Media Alliance Completes Deal To Buy Russian Turner Distribution Assets

Media Alliance, a 80/20 joint venture between Russia’s National Media Group and the United States’ Discovery Communications, has closed a deal to buy the Russian distribution and marketing assets of Cartoon Network, Boomerang and CNN International from Turner Broadcasting System Europe. The deal to buy Turner Russia was announced in December 2015 and was finalised today (05/05/2016). Turner sold its Russian-based assets in order to continue broadcasting in Russia and to comply with Russia’s media ownership law which came into effect on 1st January this year. Alongside, Turner’s assets, the joint venture will also be responsible for distributing Discovery’s channels in Russia.

http://www.themoscowtimes.com/business/article/national-media-group-buy-russian-distributor-of-cnn/568155.html

Cartoon Network Assets And Distribution In Russia Transferred To Media Alliance

Cartoon Network Assets And Distribution In Russia Transferred To Media Alliance To Media Alliance

Cartoon Network Assets And Distribution In Russia Transferred To Media Alliance

Turner Broadcasting System Europe and Media Alliance have made an assets and distribution deal in compliance to new media industry ownership laws effective of 1st January 2016 in Russia. The new Media Alliance company is a joint venture of Russia-based National Media Group (NMG) owning 80% and American owned Discovery Communications owning 20%. This means that Cartoon Network’s and Boomerang’s assets and distribution deals will now be managed by the new joint venture company, alongside Discovery’s 11 channels. The Russian version of CNN will also be managed by the company. Media Alliance also owns an air frequency in Russia, making Turner’s and Discovery’s channels exempt from the no adverts on pay-tv channels regulations.

Olga Paskina, Media Alliance’s CEO stated that the purpose of the company is to continue operating pay-tv channels in Russia:

“The deal is part of Media Alliance’s strategy, it will allow us to expand our pay TV offer and continue to provide access to high-quality content for Russian viewers.”

Matthias Heinze, the general manager of Turner Eastern Europe made this statement about the deal with Media Alliance and stated that Turner’s ambition is to bring more content to new audiences:

“Aside from satisfying the legal requirements, the deal with Media Alliance will create a complementary portfolio of diverse channels. What’s more, our ambition is to develop this new partnership further to enable us to bring more top content to new audiences.”

http://www.hollywoodreporter.com/news/turner-channels-russia-ad-sales-850937
http://www.themoscowtimes.com/business/article/billionaire-kovalchuks-national-media-group-to-buy-russian-cnn/553695.html