Finam sells its radio station
MOSCOW. Nov 5 (Interfax) - Investment holding company Finam has sold its radio station Finam FM (Bolshoe Radio company), the company said in a press release.
A group of Russian and foreign investors purchased the radio station and are interested in further developing the project.
The new owners "plan to keep all the best that was created in the radio station's five-year history and to implement various initiatives aimed at its further development and audience expansion."
The new owners plan to launch new projects that will aim to boost audience numbers, including through regional expansion and further expansion of online broadcasting. The most popular concepts of the radio station will be kept.
Finam FM is a business radio station, broadcasting on the 99.6 MGh frequency in Moscow and Moscow region. Finam bought the radio station in 2007 and in 2008 it began broadcasting in a new format, combining music (classic rock) with information content.
"The Finam FM radio station is one of our best assets. But right now we, as an investment bank, decided to focus on hi-tech projects associated to segments such as online advertising, social networks and financial services. As a result, after receiving a proposal from a group of profile investors, we decided it would be right to accept it," Finam CEO Vladislav Kochetkov is cited as saying.
