Gas Giant Gets Big Part of Media Empire
Russia’s state-dominated natural gas monopoly said it has taken possession of the largest unrestricted voting stake in NTV, once the only nationwide independent television network. A spokeswoman for gas giant Gazprom’s media arm said the firm now owns 46% of NTV shares plus a 19% nonvoting stake as collateral to cover debts. The announcement finalizes a deal announced last month stripping control of NTV from its founder, exiled media magnate Vladimir A. Gusinsky, after bitter wrangling that Gusinsky described as a Kremlin crackdown on critics.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
