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Russia's Gazprom Media buys additional stake in National Media Group

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Russia's Gazprom Media buys additional stake in National Media Group

Russia'sJSC Gazprom-MediaHolding acquired an additional 7.5% holding in for 11.12 billionRussian rubles, Broadband TV News reported April 1, citing Kommersant.

Gazprom Media reportedly bought the stake from businessmanand Rossiya Bank investor Gennady Timchenko, who in turn purchased the holdingfrom Luxembourg's RTL Group as part of a deal involving Russian channelREN TV.

Gazprom Media owns direct-to-home operator .

As of March 31, US$1was equivalent to 66.87 Russian rubles.