Norwegian media group may sell Komsomolskaya Pravda
By Leah McBride Mensching, Tuesday 24 July 2007 at 22:35 :: Media Ownership :: #307 :: rss
The Norwegian media group A-pressen may sell its stake in the country's largest circulation tabloid newspaper, Komsomolskaya Pravda, to Grigory Beryozkin's ESN Group, it was announced Monday.
If the group sells its 25 percent stake in the newspaper and one share in its publisher, A-pressen could be on the receiving end of about $41 million, according to a report.
The report, which The Moscow Times article referred to, also stated the deal could be completed within two weeks. Neither group has commented on the report. A-pressen bought the shares in 2002 for $10 million, a source close to Komsomolskaya Pravda is quoted as saying in the article.
ESN Group bought 61 percent in the newspaper's publishing house for $100 million from billionaire Vladimir Potanin's Prof-Media holding company earlier this year.
The article stated that media experts believe ESN wants to up its stake in Publishing House Komsomolskaya Pravda in order to sell it to another buyer. “The new owner could be a company linked to Bank Rossia, run by President Vladimir Putin's friend Yury Kovalchuk, the report said. Oleg Rudnov, a business partner of Kovalchuk, was recently appointed chairman of the publishing house,” the article stated.
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