The Ukrainian billionaire Rinat Akhmetov has decided to withdraw his company SCM’s investment from the country’s media industry.
In a statement published by Media Group Ukraine (MGU), one of the top four media groups in Ukraine, he said: “I made a forced decision to exit my investment company SCM from the media business.
“This week, MGU will give up all broadcast and satellite television licenses of our channels and licences of our print media in Ukraine in favour of the state. We will also stop the online media of Moscow State University.
“This decision was dictated by the entry into force of the law “On prevention of threats to national security associated with excessive influence of persons who have significant economic and political weight in public life (oligarchs)”. As the largest private investor in the economy of Ukraine, I have repeatedly said that I was not, am not and will not be an oligarch. The short six-month deadline set by law for the sale of media assets and the Russian military aggression against Ukraine do not allow SCM to sell the media business on market terms.
“For more than 20 years, starting in 2000, together with journalists, we created a media holding based on the principles of freedom of speech, truth and professionalism, consisting of 10 broadcast and satellite television channels, internet resources, print media and a modern production media ecosystem. The total amount of investments invested in this media holding exceeded $1.5 billion. But the biggest investment is the contribution of each of the 4,000 journalists and employees of our media team. Thanks to your work, the channels “Ukraine” and “Ukraine 24” became the leaders in Ukraine in terms of viewership, and the channels of the “Football” group gathered millions of fans in front of the screens. Therefore, it is difficult for me to make a decision about leaving the media business.
“I want to thank everyone for our joint work and for our joint success. And, of course, special gratitude to each of our viewers and readers. Thank you for your love, for your loyalty. We have always worked only for you!”
