Russia’a AFK Sistema is set to exit the media business with the sale of a portfolio of “Stream” pay-TV channel feeds that operate under the Klub100 brand.
Quoting managers on both sides of the impending deal, Vedomosti and AKTR report that negotiations are in their final stages.
It adds that the nine channels in question, which include the international version of Hunting and Fishing, have 12 million subscribers and reach 32 million people.
Klub100 also produces and sells six of its own thematic channels, which together have 8 million subscribers and reach around 25 million people.
The “Stream” pay-TV channels are the last media assets of Sistema and were previously part of its SMM division before it was disbanded.
The deal for the channel feeds is expected to be worth at least R1 billion (€13.66 million).
