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MUMBAI: The Walt Disney Company’s plan to launch a free-to-air television channel in the high-growth market of Russia has been derailed. The Federal Anti-Monopoly Service of Russia has halted Walt Disney’s attempt to form a joint venture with the country’s Media-One Holdings, which owns and operates 30 TV stations across the country, citing that the agency was provided with false information by “the party applying for Mo-Tv Holdings Ltd”. |
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In December, last year, the mouse house had couched out its arrangement to buy a 49 per cent stake in the joint venture wherein Disney would supply cash and programming along with expertise in content acquisition and marketing to kids and families. Apart from showcasing popular Disney shows like Hannah Montana and Wizards of Waverly Place dubbed in Russian, the channel would also be anchored by original Russian programming. The deal would also help the kids’ entertainment channel to broaden its audience base besides lending support to its local retail, theatrical distribution, licensing, mobile and internet businesses that already function in Russia. Back then, post announcement, the deal was waiting to receive regulatory approval from Russia, which requires foreign investors to have Russian partners. |
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