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Russian broadcasters team up for new venture

Three of Russia’s leading broadcasters have joined forces to form a new TV and film production company.

Due to be officially launched on January 1, 2015, it will be jointly owned by VGTRK (RTR), the National Media Group (NMG) and MTG-backed CTC Media, with each holding a 30% stake and the remaining 10% of shares distributed among its management, Broadband TV News reports.

The company, referred to as Sozdavaemaya in a release by the NMG, will be open to all market participants and is expected to become one of the top five Russian TV and film producers within the next 3-5 years.

Sozdavaemaya will specialise in entertainment-based TV and may enter into partnerships with other TV companies.