13.09.2011

On January 28, UMH completed negotiations on acquisition of Nashe Radio network and MRJ radio station in cooperation with co-investor and radio partner Retro FM. Upon completion of the requisite legal procedures the additional information about the deal will be provided.

United Media Holding decided to acquire the radio station proceeding from stabilization of economic situation and forecast growth of radio advertising market. Within the framework of joining by Nashe Radio and NRJ the radio group structure, the Holding will focus on two tasks: quality of radio programs for listeners and paying proposition for advertisers.

“Radio is one of our major business lines and we intend to strengthen further our position in this market” – commented Boris Lozhkin, President of United Media Holding.

“We admit significant success of Nashe Radio network and highly appreciate the work of our local management team. I think, the UMH acquires an excellent reinforcement to its network and is in good position for further business development”, said Lucy Gaffney, Chair of Communicorp Group Limited.