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News Corp. Sells Russian Radio Stations to Vitaly Bogdanov

Files under: News
Posted by: Quintura @ 05:52 [5. 04. 10]

Russian senator and former co-owner of radio broadcasting holding Russian Media Group (RMG), Vitaly Bogdanov has agreed to acquire 100 percent interest in four Russian radio stations Nashe Radio Moscow, Best FM, Ultra and Nashe Radio St. Petersburg from News Corporation. The deal could be valued at between $15 million and $20 million, reported newspaper Kommersant.

Launched in 1998, Nashe Radio is # 1 commercial station in Moscow for 18-34 years old. Nashe Radio St. Petersburg and Radio Ultra Moscow were both launched in 2001. Best FM was launched in Moscow in 2004. The radio stations reported total revenues of $9 million in 2009.

In February 2010, Mr. Bogdanov acquired radio stations Moya Semya and 95.2FM for estimated $15 million. According to Kommersant, Vitaly Bogdanov sold his 39% stake in Russian Media Group (RMG) for $117 million to Mediainvest in 2008.

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