NMG has completed a transaction to acquire 50% of Art Pictures Studio. A party to the transaction was NMG Studio, which invests in cinema projects on behalf of NMG. A stake of the second shareholder, Fyodor Bondarchuk, will be 50%.
"NMG is expanding its presence in the film-making segment in partnership with Fyodor Bondarchuk's leading studio. We are interested in creating high-quality Russian cinema and plan to increase our investments in this segment. In addition, more and more Art Pictures projects will be broadcast on the Holding Company’s TV channels and internet resources," said Olga Paskina, CEO of National Media Group.
"The transaction to acquire a stake in Art Pictures Studio by the NMG media holding company was stepwise. I'm sure that now Art Pictures Studio partners with the strongest market player with large media resources. In the nearest future, we are going to increase considerably the volumes of film production and to focus on the promotion of Russian cinema on the global stage," said Fyodor Bondarchuk, a founder of Art Pictures Studio.
NMG Studio's primary focus is investing in content projects and expanding NMG's presence in the film-making segment. The first project of the company was an investment in production of Attraction 2
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