Gazprom Takes Control of NTV
Independent TV network NTV is January 26 under the control of the Kremlin after a court ruling left state-controlled Gazprom Media (GM) with a majority vote, according to GM's head Alfred Kokh.
The Moscow court bailiffs froze the voting rights of a 19% stake held by Media Most, which gave GM a 46% stake of the remaining 81%. Media Most holds 49.5% of NTV, with Capital Research Bank owning a 4.5% share.
Gazprom had appealed to the Moscow Arbitration Court last week to seize the 19% of NTV stock held as collateral for an unpaid loan.
Gazprom added it would push for an immediate extraordinary general meeting to reshuffle the board of directors. NTV is the only one of three Russian TV networks that is not state-controlled.
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