Bank GLOBEX, which’s acquired by Vnesheconombank in 2008, invested an undisclosed amount in exchange for 19.8 percent shares in publishing and research group Expert Media Holding, announced the company. The new funds will be invested into development of TV channel Expert TV.
Founded in 1995, Expert is the largest weekly magazine in Russia with a print-run of 82,000 copies. Expert launched a rating agency Expert RA in 1997, Russian Innovation Contest (Конкурс Русских Инноваций) in 2001, personal finance magazine D’ in 2005, daily online magazine Expert Online in 2006 and weekly magazine Russian Reporter in 2007. The group also publishes online sites FinCake and iLovecinema.ru as well as regional issues of its magazine.
In 2004, the management of Expert bought-out a stake in the group from Prof-Media.