Russia's National Media Group (NMG), owned by tycoon Yuri Kovalchuk, has acquired a 25% share in the country's leading federal television Channel One from oligarch Roman Abramovich, NMG and local media said on Wednesday.
"NMG announced that it has completed a deal to buy 100% of authorized capital of RastrKom-2002, which owns a 25% stake of Channel One," NMG said in a statement without disclosing further details.
The Kommersant business daily said Abramovich sold the 25% stake to Kovalchuk for $150 million. It said he bought 49% of Channel One from exiled Russian tycoon Boris Berezovsky in 2001 for $175 million.
The remaining 51% share in Channel One is held by the government.
MOSCOW, February 9 (RIA Novosti)
