- Rostelecom OJSC, Russia’s national telecommunications operator, has announced that it is collaborating with Russia’s leading producer of pay-TV channels for cable and satellite broadcast - All-Russia State Television and Radio Broadcasting Company (VGTRK) - to create a combined media joint venture. The JV of VGTRK’s Digital Television and Rostelecom’s subsidiary NKS-Media aims to accelerate the development of the combined media assets in the field of production and distribution of thematic pay-TV channels for cable and satellite broadcast.
- The JV is expected to provide Rostelecom with access to an expertise of high-quality original content creation.
Sergey Kalugin, President of Rostelecom
We have considered a number of scenarios for the further development of our TV channels and have made the decision to consolidate them with VGTRK media assets, becoming a shareholder of the leading player on thematic pay-TV channels market. We believe they will generate greater value as part of a larger JV with VGTRK rather than attempting to develop our media business as a standalone entity. This will enable the combined company to obtain a much stronger position in the market, manage its costs more efficiently and enhance a leadership in quality of content.