The Russia bank Rossiya, which already has extensive interests in the country’s TV industry, is poised to make a major acquisition.
Kommersant reports that the bank, which lists Yuri Kovalchuk as its majority shareholder, is close to buying Video International (VI). Although currently the leading ad sales house in Russia with a 60%+ market share, VI is set to see that share fall to less than 35% following the introduction of new rules at the beginning of 2011.
Rossiya’s interests include National Media Group (NMG), which besides owning the country’s leading cable operator also controls Ren TV and Channel 5.
