National Media Group holding, controlled by the shareholders of the bank "Russia," headed by businessman Yuri Kovalchuk, became the sole owner of television channel REN TV, increasing its stake in the company to almost 100%. The holding signed an agreement with the European media conglomerates RTL Group to exchange European concern owned 30% stake in REN TV on 7,5% stake in National Media Group (NMG).
Earlier some media reported that RTL Group bought 30% of REN TV in 2005 from Irena and Dmitry Lesnevsky for 67 million euros to leave Russia. In April last year, concern has concluded an option agreement with NMG, for which RTL might sell its 30% to be redeemed by NMG. Source: www.comnews.ru
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