Russia’s Gazprom Media paid a total of $602 million for the ProfMedia business, which includes the TV channels TV3, Pyatnitsa and 2×2.
This, according to Kommersant, is significantly less than the $1 million invested by the entrepreneur Vladimir Potanin in building up the group over the last few years.
Over half ($550 million) of that total was on TV3, with a further $360 million on MTV, which was subsequently replaced by Pyatnitsa last summer.
Kommersant notes that in the period 2006, ProfMedia only posted a net profit on two occasions: $11.6 million in 2006 and $40.6 million in 2007.
