Dragon Capital Advises U.A. Inter Media Group on Acquisition of MTV Ukraine
Kyiv, October 20, 2009 – Dragon Capital has advised U.A. Inter Media Group on the acquisition of a controlling stake in Music Television LLC, the owner of MTV Ukraine TV channel, from private equity fund Emerging Europe Growth Fund established by Horizon Capital.
“The parties showed initial interest in the deal about a year ago but it took a while to negotiate terms of the acquisition," said Brian Best, Managing Director of Investment Banking at Dragon Capital.
"The transaction was closed in early October to become the first successful deal on the Ukrainian media market in a long time. We strongly believe that the acquisition will be beneficial for U.A. Inter Media Group, strengthening its leadership on the TV market and expanding its presence in the youth entertainment segment.”
"We are satisfied with the terms and results of the deal. We also would like to express our appreciation of Dragon Capital’s professional advisory services. We will soon integrate the music channel into the holding and focus on its further development and audience expansion. Besides, we continue to cooperate with Viacom and consider launching the group’s other channels in Ukraine,” said Yaroslav Porokhniak, Vice President for Strategic Investments at U.A. Inter Media Group.
About U.A. Inter Media Group Limited
U.A. Inter Media Group Limited is one of the largest media corporations in Ukraine. Established in 2005, the group controls 61% of Ukrainian Independent TV Corporation (TV channel INTER), 90% of Kino-TV (ENTER FILM TV), 90% of Muzyka TV (Enter Music TV), as well as television channels K1, K2, Megasport, NTN and other media assets. The group is owned by Valeriy Khoroshkovsky and its operations are managed by Sergiy Sozanovsky, CEO of Ukrainian Independent TV Corporation. The group is a member of the European Business Association and the American Chamber of Commerce in Ukraine.
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