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.