Gazprom extends TV reach

Russia’s largest company, Gazprom, has extended its TV business after agreeing to buy a host of channels from competitor ProfMedia.

Gazprom Media, which already owns commercial networks NTV and TNT, is acquiring channels including Pyatnitsa!, MTV Russia, TV3 and 2×2.

ProfMedia, which was owned by tycoon Vladimir Potanin’s investment company Interros, also operates radio stations, production and distribution businesses which have all been included in the deal.

In a joint statement, Interros and Gazprom said the deal is expected to be completed in 2014. Financial details were not disclosed.

Gazprom Media has been running NTV since 2000, when it bought the channel from former Russian media tycoon Vladimir Gusinsky. It also runs satellite TV firm NTV-Plus and online services including rutube.ru.

It reported US$1.6bn in revenues in 2012 and is headed by Mikhail Lesin, who was previously minister for press and mass communications during Vladimir Putin’s first spell as president of the country.