Wednesday, May 23rd, 2012
Walt Disney announced a joint venture with Media-One Holding Ltd. Last Tuesday. The partnership will launch a new Disney-branded channel on Russian television. Media-One will be the majority shareholder in the joint venture, while Disney will hold 49 percent of the stake, which will be distributed to Disney subsidiaries.
The new channel will center on family-oriented entertainment with Disney-branded programs. These programs will air on 30 TV stations in Russia that will be operated by Media One. The channel is set to debut this year, will also have Russian programs for support and variety.
Disney will invest cash and will also put in marketing expertise and content acquisition for the joint venture.
?We are delighted to sign this landmark deal with the world’s leading multinational media company for the Russian television market,? asserted Media-One chief executive Ivan Tavrin.
?Russia is an extremely important market for Disney and this new Disney channel is a great way for us to expand our brand and business,? said Disney president and chief executive Robert Iger.
