25 Sep '08
Moscow broadcasting corporation Prof-Media has announced the purchase of two Novosibirsk broadcasting companies, the firm said earlier today.
Its new assets are Charles that broadcasts radio programs of Avtoradio in Novosibirsk, and Energiya, a local Europa Plus broadcaster.
The parties have refrained from disclosing the deal's value. Market players, however, tend to believe that Prof-Media has paid between $2.5m and $2.8m for each of the companies.
In 2007 Prof-Media already bought two stations in Novosibirsk broadcasting programs of Yumor FM and Radio Record.
As part of its expansion strategy Prof-Media is seeking to buy regional stations broadcasting programs of such national radio station as Avtoradio, Yumor FM, Energy and Radio Alla, a source in the company said.
Currently the company owns 13 stations outside Moscow in cities like St Petersburg, Perm, Samara, Rostov-on-Don and Ekaterinburg.