Lyon-based Euronews, launched in 1993 as a response to CNN, is a 24-hour television news channel, broadcast in English, French, German, Italian, Portuguese, Spanish and Russian. It is owned by 19 European broadcasters.
VGTRK, or All-Russian State Television and Radio Company, owns Rossia, RTR-Planeta, Sport and Kultura TV channels, as well as Mayak and Radio Rossii radio stations.
VGTRK acquired a 1.8 percent stake in Euronews in 2001 and the following year announced its intent to radically increase its stake. But it was not until this week that the deal was revealed in Paris during the presentation of RTR-Planeta, which will broadcast in France.
France Television owns 27 percent of Euronews, and Italy's RAI and Spain's RTVE own roughly 18 percent each. No country is allowed to have a controlling stake.
"From the informational standpoint, Russia today is much closer to united Europe than many new European Union members," Oleg Dobrodeyev, VGTRK chairman, told Kommersant.
VGTRK representatives will join the board of directors of Secemie, the company that fully controls Euronews, and will be able to influence its budget and management decisions.
The channel's editorial policy is not going to change, said Lydie Bonvallet, a Euronews spokeswoman. "Russia does not own a controlling stake and even if it did, our stakeholders have no say in editorial decisions."
The deal plays a big role in securing Russia's role as a key players on the European media market, said Anna Kachkayeva, a media analyst for Radio Liberty. "It certainly adds to Russia's prestige and helps to 'legalize' Russian TV for Europe," she said.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.