Travel Channel is now under new ownership in Russia.
According to Kommersant, Ivan Rodionov, a former member of the board of directors at Rostelecom, and Igor Pozhitkov, a former head of the International Federation of Phonogram Producers (IFPI), have acquired 80% of the company from Scripps Networks Interactive.
The latter sold the stake, while retaining the remaining 20%, in order to comply with foreign ownership restrictions in media companies that came into effect in Russia at the beginning of this year.
Travel Channel is funded solely by subscriptions in Russia.
Kommersant recently put its cable and satellite subscriber total at 8 million.
