The leading Ukrainian media company Inter Media Group has undergone a change in ownership.
In a statement, it says that K.H. Media, which is headed by the former First Deputy Prime Minister Valery Khoroshkovsky, has sold its 100% stake to GDF Media for a fee of $2.5 billion (€1.83 billion).
The latter is owned by the billionaire Dmitry Firtash and the deal still has to be approved by the Antimonopoly Committee of Ukraine.
Inter Media Group operates a total of eight TV stations including Inter and MTV Ukraine.
Khoroshkovsky says he sold his stake as mainly because “under the prevailing conditions” he was unable to ensure the development of the group.
