Russia’s National Media Group (NMG) has increased its stake in Ren TV to 82%.
Vedomosti reports that this follows its acquisition of a 14% share held by the Cypriot offshore company Emira Consultants, with the sale undertaken in order to comply with the new media ownership limits that came into effect at the beginning of this year.
Although no fee has been disclosed, one industry source believes it could have exceeded $9.3 million.
Ren TV was established in 1991 and has undergone a number of ownership changes since 2000.
Meanwhile, NMG has recently acquired several media assets and in less than a year secured 20% of the pay-TV audience in Russia.
