Disputes around Gazprom-Media settled in amicable way

Gazprom-Media holding has bought the share of Vladimir Gusinsky and controlled by him demands towards other companies belonging to the holding. At the same time, promissory notes of Gazprom-Media holding towards media-companies of Gusinsky were bought. This was reported in a press-release of the company, circulated yesterday. The conditions of the bargains were not divulged.

The chairman of Gazprom stock company administration, Alexei Miller: “This bargain increases investment attraction of Gazprom-Media assets. We hope that consolidation of the stock will create more friendly conditions for further negotiations with potential investors. At the same time, it is very important for financial state of the holding, that we bought all promissory notes of Mr Gusinsky to our companies.”

The director general of Gazprom-Media company, Boris Jordan: “The bargain will seriously increase capitalisation of Gazprom-Media companies. Consolidation of stock capital furthers strengthening of financial state of the holding. At the same time, the Gazprom-Media management will continue its work on developing companies of the holding as economically effective and independent mass media.”

Media-magnate Vladimir Gusinsky: “I am proud that we have once managed to create an independent mass media group which had occupied leading positions in Russia. I hope that today’s leadership of the group and first of all the NTV channel leadership will continue this work.”

It should be reminded that earlier, to Media-Most holding headed then by Gusinsky television channels NTV, NTV+, TNT, Segodnya newspaper, Itogi and Sem Dnei magazines and Ekho Moskvy radio belonged. Gusinsky possessed blocking package of shares of more than 15 companies of the holding, in particular, 30 percent of NTV company shares.

Now, everybody seems to be satisfied

Sergei Yugov PRAVDA.Ru

Translated by Vera Solovieva

Read the original in Russian: http://www.pravda.ru/main/2002/07/09/43916.html