Walt Disney will begin broadcasting a free-to-air television channel in Russia next year in a deal with UTH, the media group, to buy a 49 per cent stake in Seven TV.
Seven TV will be rebranded as The Disney Channel upon completion of the deal, announced as Bob Iger, Disney’s chief executive, met Vladimir Putin, Russian prime minister, in Moscow.
The price was not disclosed, although people familiar with the matter said it was worth about $300m. The deal will ensure that Disney programming is available to 75 per cent of the country’s measured broadcast audience: Disney said the channel would reach approximately 40m households and be available in Moscow, St Petersburg and hundreds of towns and cities through other distribution agreements.
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