Ukrainian businessman Akhmetov transfers media business to state
MOSCOW. July 11 (Interfax) - Ukrainian businessman Rinat Akhmetov has said that his SCM investment company will exit its media business and transfer all its media licenses to the state in connection with a Ukrainian anti-oligarch law entering into force.
"I made an involuntary decision that my investment company SCM will exit its media business. This week, Media Group Ukraine will surrender for the benefit of the state all Ukrainian licenses of our television channels for terrestrial and satellite broadcasting, as well as print media licenses. We shall also cease operations of MGU's online media," Akhmetov said in a statement.
The decision was driven by the law On Preventing Threats to National Security Associated with Excessive Influence by Persons Who Wield Significant Economic and Political Weight in Public Life (Oligarchs) entering into force, he said.
"Being the largest private investor in the Ukrainian economy, I have repeatedly stated that I have never been and am not going to be an oligarch," Akhmetov said. The short six-month term the law provides for the sale of media assets along with Russia's special military operation make it impossible for SCM to sell its media business on market terms, he said.
Media Group Ukraine was established in 2000, and overall investments in it have exceeded $1.5 billion, Akhmetov said.
Media Group Ukraine unites the Ukraine national television channel, the Ukraine 24 news channel, the NLO TV kid's channel, Indigo TV theme channels, the Football-1, Football-2, and Football-3 channels, regional channels Donbas TV, 34 TV, and Sigma TV, satellite television operator Xtra TV, international channels Ukraine 1, Ukraine 2, NLO TV 1, and NLO TV 2, the Tele Pro and Dopomozhemo TV production companies, media agency Media Partnership Buying, the Ukraine news group, the Ukraine multimedia platform, the Segodnya news channel, the segodnya.ua website, the cross-platform project Vogue UA, and OTT platform OLL.TV.
Akhmetov's System Capital Management is the media holding's owner.