Large Russian media holding companies set up joint advertising agency
MOSCOW. July 4 (Interfax) - VGTRK, Channel 1, Gazprom-Media Holding and National Media Group have set up a National Advertising Alliance that will combine the companies' sales of television commercials, Gazprom-Media Holding said on its website.
"Russia's largest media holding companies - VGTRK, Channel 1, Gazprom-Media Holding and National Media Group - have completed the formation of a joint company for selling advertisement. They set up a limited liability company, National Advertising Alliance (NRA), in which each partner has a 25% stake," the statement said.
NRA's General Director is Oganes Sobolev, board of directors consists of the founders' representatives: Channel 1 General Director Konstantin Ernst, VGTRK General Director Oleg Dobrodeyev, Gazprom-Media Holding General Director Dmitry Chernyshenko, National Media Group General Director Olga Paskina, and Sobolev, a Gazprom-Media Holding spokesperson said.
"The combining of efforts in the creation of a trade platform that will take into account the interests of all participants on the dynamically-changing media advertising market will provide new opportunities in offering services to various client segments, help achieve well-balanced cost management and provide stability and economic efficiency for the advertising segment in the medium-term prospect and on the strategic horizon," NRA General Director Sobolev was quoted by Gazprom-Media Holding as having said.
The idea to set up an alliance had been discussed since 2014, but got a new boost now amid the slump on the advertising market and rising costs of the television broadcasters, according the statement.
