Prof-Media announced that it has bought 100% of Wayfarer Media, the owner of MTV Russia and VH1 Russia, for 360 million bucks. Wayfarer was previously owned 53% by Viacom, 42% by Russia Partners and 5% by the European Bank for Reconstruction and Development.
"Prof-Media continues strengthening its positions in entertainment television. We expect to cover a larger audience and increase MTV Russia's market share," said Rafael Akopov, the Russian media mogul who heads the company.
MTV Russia, which has been operating since 1998, broadcasts to 35 million households via 21 O&O TV stations and some 650 affiliates, as well as cable and satellite. VH1 Russia, launched in 2005, reaches 14 million households, primarily via cable.