Date: 10th January 2001

Turner To Buy Stake In Russian Network

Ted Turner is planning personally to buy a 25-percent stake in Russia's independent NTV television network, a move that would strengthen the hand of the embattled head of the network, Vladimir Gusinsky, the Wall Street Journal indicated today (Tuesday). Gusinsky, now living in voluntary exile in Spain. is at the center of an investigation by Russian authorities who have accused him of embezzlement, fraud and other offenses related to his business dealings. The Russian media mogul, in turn, has accused the government of trying to silence him. NTV has been strongly critical of President Vladimir Putin's government. In reporting on Turner's initiative, the WSJ observed that it could give a big boost to NTV, whose "boisterous independent voice contrasts with docile state-controlled networks."

Source: Studio Briefing