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IFD Kapital Refused To Buy the Shares Of Russian Media Group
September 2, 2015 16:21


The investment company “IFD Kapital” rejected the offer to purchase the shares of “Russian Media Group” (RMG) made by a group of Russian producers and musicians. This was reported by “Vedomosti” with the reference to its own sources.

The amount of the offer, according to the publication, amounted to 5 billion roubles. The purchase of the share package was offered by the RMG producers Iosif Prigozhin, Viktor Drobysh, Igor Krutoy, Maksim Fadeev, Igor Matvienko, as well as Philipp Kirkorov, Nikolay Baskov and Grigory Leps.

Commenting on the reason for such rejection, the representative of “IFD Kapital” spoke about the lack of information that would make it possible to estimate the financial position of the buyers. “According to both law and our internal procedures, we must be sure about the source of funds offered by the buyers to be sent as payment for the shares” – “Vedomosti” quotes the message of “IFD Kapital”.

The company asked the producers and musicians to provide the details, as the newspaper notes. Prigozhin told to the newspaper that the lawyers of the potential buyers were preparing a report. “Tell us if you are ready to sell RMG to us or not, then we will provide all the necessary documents - up to the bank guarantee” - he said. According to “Interfax”, Prigozhin confirmed the offer on September 1.

The Ministry of Communications and Media has supported the creation of a patriotic musical holding based on “Russian Media Group” (RMG) and “State Concert”. The fact of meeting with the representatives of RMG was confirmed by the Deputy Minister of Communications and Media Aleksei Volin. According to him, it is not planned to allocate budgetary funds to the activities of the holding. RMG explained that the main source of income would be advertising and concert activity. 
“The main task of the new management of RMG will be to reach a higher number of popular performers, several times more than there are today. The work of the holding will involve all radio stations of RMG” – the interlocutor told to Rambler. He also noted that the holding company will deal with the search for new performers and will help with their promotion. In addition, at the meeting of the management of “Russian Media Group” with the Ministry of Communications it was decided to establish a council that will consider complaints for corruption on the radio.

It is planned that it will include cultural workers, as well as media managers and financial experts. “RMG will create a supervisory board consisting of respected people who enjoy the confidence of the industry and society. This council will have to consider disputes and complaints, if they are any” - the source reported. In July the representatives of “Russian Media Group” jointly with a number of cultural workers addressed the Russian President Vladimir Putin with a proposal to create a patriotic musical holding on the basis of the assets of RMG. The letter authors note that the project should become an incubator of domestic superstars, in order “to have ideologically right-minded idols of millions at hand”. Russian artists and producers objected against this idea. They appealed to Vladimir Putin asking him to prevent the sale of RMG to “State Concert” and launched a flash mob in social networks.


Author: Anna Dorozhkina


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