GAZPROM-MEDIA TO SELLS ITS STAKE IN IZVESTIA TO BANK ROSSIYA
December 14th 2007 08:37
Moscow Times reports that Gazprom-Media has agreed to sell its stake in newspaper Izvestia to Bank Rossiya, according to a source within Gazprom.
Gazprom's media unit will sell 51 percent of the holding that controls Izvestia and its office building in central Moscow to Bank Rossiya's insurance unit, Sogaz, Kommersant cited an unidentified Gazprom official as saying.
Bank Rossiya's majority shareholder, Yury Kovalchuk, is a close ally of President Vladimir Putin.
Kovalchuk already controls Ren-TV, once considered to be one of the country's more independent television channels, and media assets in St. Petersburg.
Izvestia general director Pyotr Godlevsky declined to comment, referring questions to shareholders, Kommersant reported.
- From MediaBlab
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