11.17 Europe/London, August 1, 2011 By Chris Dziadul
The Moscow channel TV Stolitsa (‘Capital TV’) has been taken over completely by the city authorities.
According to Kommersant, this follows the acquisition of the 35% stake in the company formerly held by Vasilya Kichedzi.
TV Stolitsa, which is valued at R430-570 million (€10.8-14.3 million) and has an audience share of only around 0.1%, is now set to become a non-stop news channel from this autumn.
The Moscow city authorities also own a larger station named TV Center that has federal status and reaches around 70% of the Russian population.
The Moscow channel TV Stolitsa (‘Capital TV’) has been taken over completely by the city authorities.
According to Kommersant, this follows the acquisition of the 35% stake in the company formerly held by Vasilya Kichedzi.
TV Stolitsa, which is valued at R430-570 million (€10.8-14.3 million) and has an audience share of only around 0.1%, is now set to become a non-stop news channel from this autumn.
The Moscow city authorities also own a larger station named TV Center that has federal status and reaches around 70% of the Russian population.