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Files under: News, Tech
Posted by: Yakov @ 13:15 [23. 07. 08]
 The Russian financial group Finam led a consortium of Russian investors that acquired a minority stake in Deluxe Television, a Munich, Germany-based broadcaster of premium music television channels with a daily audience of 5 million people, with plans to increase its stake to 50% by the end of 2008. The value of the investment is not disclosed. Finam is expected to develop Deluxe in Russian and Asian markets.
Founded in 2004, Deluxe owns a free-to-air music television channel, Deluxe Music, seven pay-TV music channels (rock, soul, lounge, jazz, etc), two radio stations, the music label Sashimi Records. It also has an online shop where users can download songs and buy DVDs, CDs and merchandise. Deluxe tests a high-definition music channel to be launched later in 2008.
Finam recently made two successful exits from its investment in contextual advertising company, Begun and computer game publisher, BUKA.
This is the second acquisition of a German TV channel by the Russian investors in the last two months. In June 2008, the Russian film producer Dmitri Lesnevski-owned Mini Movie agreed to acquire the German free-to-air TV channel, Das Vierte, from NBC Unversal.
Tags: Das Vierte, Deluxe Music, Deluxe Television, Dmitri Lesnevski, finam, Finam Deluxe, Russian cross-border acquisition
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