Russia’s Channel One has found a new partner for the distribution of its content outside the country.
Roman Abramovich has sold his remaining 20% stake in Russia’s Channel One, reports RBC.
The Russian broadcaster Channel One is now also the most watched TV service in the country on the internet.
Regular state subsidies will be required to stabilise the financial position of Russia’s Channel One.
Russia’s Federal Antimonopoly Service (FAS) has approved the sale of a 4% stake in Channel One currently held by Roman Abramovich to National Media Group (NMG).
Roman Abramovich is set to reduce his stake in Russia’s leading broadcaster Channel One.
Russia’s Channel One has decided to take a proactive approach in its fight with piracy.
Thematic channels in Russia now have a combined audience share that is greater than that for Channel One, the country’s leading broadcaster.
Russia’s State Duma has allocated Channel One R3 billion (€44.5 million) for the next two years.
Ren TV and Pyatnitsa were the star performers in Russia’s TV industry in 2016, with both growing their revenues by around 20%.