Russia's diversified media company, Prof-Media was established in 1997, and in 2006 had a total income of $400 million. It is the largest private investor in key sectors of the Russian media market. It controls a network of multiplexes, holds a controlling stake in Central Partnership, is a leading producer and distributor of TV products and films, and runs FM radio stations in Moscow and St. Petersburg, a TV channel, and a publishing house.
"Prof-Media continues strengthening its positions in the entertainment television [segment]," Rafael Akopov, Prof-Media director general, said. "We expect to cover a larger audience and increase MTV Russia's market share."
A 53% stake in Wayfarer Media Limited was previously owned by one of the world's largest media companies, MTV Networks International (MTVNI, a subsidiary of Viacom). Forty-two percent belonged to Russia Partners and the remaining 5% was held by the European Bank for Reconstruction and Development. MTVNI will continue providing exclusive rights for Wayfarer Media Limited to broadcast MTV and VH1 programs and relevant Web sites in Russia.
Established in 1998, MTV Russia broadcasts to 35 million households through 21 stations and some 650 partners, as well as cable and satellite operators. VH1 Russia, which was launched in 2005, has an audience of 14 million mostly through cable operators.
