×
You will be redirected back to your article in seconds

Viacom Forms Joint Venture with Legacy to Comply with Russian Media Law

LONDON — Viacom Intl. Media Networks, which operates Viacom channels such as MTV and Nickelodeon around the world, has restructured its television business in Russia.

VIMN has entered into a new partnership with Legacy Media so that the business complies with the amended Russian Mass Media Law, which takes effect on Jan. 1, 2016. The law sets the maximum foreign stake in Russian mass media companies at 20%. A new joint venture between VIMN and Legacy will operate the 12 pay TV channels in Russia that were previously owned and operated by VIMN alone.

“Since entering the Russian market in 1998, VIMN’s local operations have grown strongly with all four of its core global brands — MTV, Nickelodeon, Paramount Comedy (Comedy Central) and Paramount Channel — now firmly established,” VIMN said in a statement.

“VIMN and Legacy Media are committed to providing Russian TV viewers with the best in children’s, comedy, music and general entertainment programming and film, and will continue to build on the strong recent performance of these brands.”

More TV

  • Sheryl Sandberg

    Sheryl Sandberg: Facebook 'Absolutely Did Not Pay Anyone to Create Fake News'

    LONDON — Viacom Intl. Media Networks, which operates Viacom channels such as MTV and Nickelodeon around the world, has restructured its television business in Russia. VIMN has entered into a new partnership with Legacy Media so that the business complies with the amended Russian Mass Media Law, which takes effect on Jan. 1, 2016. The […]

  • Chris Kelly, Sarah Schneider Get Ready

    Chris Kelly, Sarah Schneider Get Ready for 'The Other Two'

    LONDON — Viacom Intl. Media Networks, which operates Viacom channels such as MTV and Nickelodeon around the world, has restructured its television business in Russia. VIMN has entered into a new partnership with Legacy Media so that the business complies with the amended Russian Mass Media Law, which takes effect on Jan. 1, 2016. The […]

  • TV Academy Names Frank Scherma Chairman

    TV Academy Names Frank Scherma Chairman and CEO

    LONDON — Viacom Intl. Media Networks, which operates Viacom channels such as MTV and Nickelodeon around the world, has restructured its television business in Russia. VIMN has entered into a new partnership with Legacy Media so that the business complies with the amended Russian Mass Media Law, which takes effect on Jan. 1, 2016. The […]

  • Vivendi's Third Quarter Revenue Up 5.6%,

    Vivendi Posts 5.6% Increase in Q3 Revenue, Driven by UMG, Studiocanal

    LONDON — Viacom Intl. Media Networks, which operates Viacom channels such as MTV and Nickelodeon around the world, has restructured its television business in Russia. VIMN has entered into a new partnership with Legacy Media so that the business complies with the amended Russian Mass Media Law, which takes effect on Jan. 1, 2016. The […]

  • Bob Bakish

    Viacom Q4 Profit Falls on Cable Ad Revenue Shortfall

    LONDON — Viacom Intl. Media Networks, which operates Viacom channels such as MTV and Nickelodeon around the world, has restructured its television business in Russia. VIMN has entered into a new partnership with Legacy Media so that the business complies with the amended Russian Mass Media Law, which takes effect on Jan. 1, 2016. The […]

More From Our Brands

Access exclusive content