Tuesday, February 24, 2009

FAS is not allowed Walt Disney to buy a share in the Russian media.

Federal Antimonopoly Service (FAS) last Friday, February 12, dismissed the application of The Walt Disney Company to purchase 49 per cent holding Ivan Tavrina Media One TV, controlling 30 regional television stations in Russia. This Kommersant daily on Tuesday, 24 February.
According to the publication, in the creation of children's TV channel on the basis of these stations are The Walt Disney Company was going to invest 233 million U.S. dollars. However, FAS has rejected the application of Catalpa Investments on the acquisition of 49 per cent of MO-TV Holdings. Deputy Head of FAS Andrey Kashevarov explained that the Catalpa Investments represented the interests of the American company The Walt Disney, and MO-TV Holdings is the parent holding company Media One TV.
The application was rejected in accordance with Article 33 of the Law "On Protection of Competition, Federal Antimonopoly Service of the documents considered unreliable. The publication reports that 19 Dec, 2008 FAS Catalpa Investments sought additional information, but it was not received in full. In addition, as highlighted in the service, if the transaction took place, the Catalpa Investments would be able to take key decisions in the management of television, although no reference was going to buy a share.
Participants media did not officially comment on the decision of FAS. According to the head of a Russian TV channel, this policy decision more than business. The reason for refusal is that the Russian authorities do not want to allow foreign capital to participate actively in the media. According to Kommersant, formerly president of The Walt Disney Company Robert Iger even tried to get an appointment with Prime Minister Vladimir Putin to discuss the launch of its TV channel in Russia. Official confirmation of this information is not available.
Recall of plans to The Walt Disney Company to invest 233 million dollars in the development of Russian children's television became aware in December 2008.

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