The acquisition of Turner’s broadcasting assets in Russia by Media Alliance, a joint venture between the National Media Group (NMG) and Discovery Communications, has been finalised.
Quoting RBC, The Moscow Times reports that as a result of the deal Media Alliance will now be able to distribute and market Cartoon Network, the Boomerang kids channels and CNN in Russia.
Media Alliance is 80% owned by NMG, with Discovery holding the remaining 20%, thereby complying with new regulations on foreign ownership of Russian media interests that came into effect at the beginning of this year.
The sale of Turner’s broadcasting assets, for an undisclosed fee, was first announced last December.
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