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Business FM and BFM.ru United Media Acquired by Novolipetsk Steel Chairman Lisin

Files under: News
Posted by: Quintura @ 12:38 [17. 06. 09]

Chairman and major owner of Novolipetsk Steel (NLMK), one of Russia’s largest steel producers, Vladimir Lisin agreed to acquire 100 percent interest in business media company United Media for $23.5 million from Arkadi Gaydamak and managers of the company, reported business newspaper Kommersant.

Founded in 2007, United Media includes radio stations Business FM and Kino FM, online portal BFM.ru and weekly newspaper Business & Financial Markets. United Media generated revenues of $12 million and net loss of $1 million in 2008. Launched in March 2007, Business FM radio station has a daily audience of 370 thousand in Moscow. Launched in December 2008, portal BFM.ru has 1 million monthly visitors.

Vladimir Lisin owns Moscow-based daily newspaper Gazeta and Lipetsk-based media group Rumedia.

In January 2009, Alexander Lebedev acquired 75% interest in London’s daily newspaper Evening Standard for GBP 8.3 million from Daily Mail & General Trust (DMGT).

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