Rupert Murdoch’s News Corporation released its financial report for the 2009/2010 fiscal year late last week, containing statements which imply the possibility that the company may try to sell subsidiaries Fox Mobile and News Outdoor. The report has given rise to speculation that VTB Capital and Alfa Group may be interested in a News Outdoor acquisition.
News Outdoor is currently facing a USD 45 million bill for outstanding taxes and penalties from cases dating back to 2005 and 2006. To date, none of the three parties involved has been willing to make a public statement.
News Outdoor (www.newsoutdoor.ru)
News Outdoor is Russia’s largest outdoor advertising firm with ad campaigns currently active in 90 cities. The firm is part of Moscow-based News Outdoor Group (NOG).
Through the use of billboards, rooftop panels, street furniture, painted walls, superboards, and digital screens, News Outdoor maintains 40,000 locations reaching millions of people. In addition, NOG operates another 60,000 locations in other countries outside of Russia. It is the world’s seventh-largest advertising company of its kind.
News Outdoor is active with indoor advertising as well, boasting more than 1,600 outlets in 23 cities, with partners like Cash&Carry Mosmart, Ramstore, and others.
The company’s 4,000 employees and had revenues of USD 385 million in 2008.
VTB Capital (www.vtbcapital.com)
VTB Capital is the investment arm of Russian financial giant VTB Group, managing the group’s private equity investments, commodities activity, and debt & equity market activity. VTB Capital also acts as an advisor to other investors active domestically and in foreign markets.
VTB Capital is based in Moscow and maintains offices in Singapore, Dubai, and London.
19/08/2010
Central & Eastern Europe, Exit, Internet, E-Commerce & E-Services, Private Equity News, Russia