Russia’s Kommersant ends TV channel
June 27th, 2012 - 9:37 am ICT by IANSMoscow, June 27 (IANS/RIA Novosti) Russia’s Kommersant publishing house has announced that it was getting rid of its television channel, that was launched in 2011, because of its financial underperformance.
“A day of the channel’s operations loses enough money to buy a good German car,” Dmitry Sergeyev, director general of the publishing house, was quoted as saying by the by Slon.ru website.
Slon.ru estimated total investment in the channel at $8-$10 million.
Editor-in-chief of Kommersant-Vlast political weekly, Maxim Kovalsky, stepped down in December after a clash with the publishing house’s billionaire owner Alisher Usmanov.
The tycoon, a self-professed Kremlin loyalist, was angered by Kommersant-Vlast running a photo of a ballot for the parliamentary elections with an insult to then-prime minister Vladimir Putin scribbled on it.
–IANS/RIA Novosti
pm
- Russian journalists fired for photos targeting Putin - Dec 13, 2011
- Exhausted Russian reporters plan anti-demonstration protest - Mar 13, 2012
- Key Russian websites hacked, down on election day - Dec 04, 2011
- Facebook files for $5 bn IPO - Feb 02, 2012
- Russian postal service among world's worst: Study - Jun 27, 2012
- Three Russian journalists detained in Kazakhstan - Dec 19, 2011
- Russia's richest tycoon names $100 mn Yacht after mother - Jun 01, 2012
- Bomb scare at RIA Novosti office - Sep 15, 2011
- Moscow court acquits Kasparov - Aug 25, 2012
- 'Attacks on journalists in Russia a concern' - Apr 14, 2011
- Software firm denies Russian spy agency tie-up - Aug 28, 2012
- Russia to launch commercial-free public TV - Apr 18, 2012
- Police injured in anti-Putin rally get apartments - May 26, 2012
- US ready to provide Russia with missile shield details - Nov 21, 2011
- Putin, Obama to meet after presidential inauguration - Mar 21, 2012
Tags: 10 million, alisher usmanov, billionaire owner, clash, german car, insult, june 27, kommersant, kremlin, maxim, moscow, parliamentary elections, prime minister, publishing house, ria novosti russia, ru, television channel, tv channel, tycoon, vladimir putin