National Media Group announces the completion of the transaction on purchase of 11% shares of Izvestia, which results in holding ownership share reaching 98.32%.
In accordance with the legislative requirements, NMG will exercise their right to purchase the remaining shares of the minority shareholders at a price determined by an independent appraiser.
Thus, the media holding enters the final stage of the asset consolidation, which implies ownership of 100% of the shares, as well as management and independent publication of the Izvestia newspaper.
On August 1, 2016 the publishing rights to the Izvestia newspaper transferred to Izvestia PJSC. The contract with INEWS, that published Izvestia from June 6, 2011, expired on July 31, 2016. Editorial work is now organized in a new office at the 3rd Pavlovsky Lane, 1.
The editors of Izvestia continue to be led by Arseny Oganesyan, who was appointed the chief editor on February 1, 2016.
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