Russia’s National Media Group (NMG) has acquired a majority (51%) stake in Everest, a sales house previously wholly owned by the broadcaster CTC Media.
At the same time, reports Kommersant, NMG and CTC Media have established three joint businesses, each of which is 51% owned by NMG.
NMG and CTC Media, which was formerly backed by Modern Times Group (MTG), already have ownership links and bringing their activities closer together in such areas as sales and the joint acquisition of content was agreed upon in February this year.