Summary of Proposed Investment
Project Number
25050
Company Name
Independent Network Television Holdings, Ltd.
Date SPI Disclosed
Apr 26, 2006
Country
Russian Federation
Industry
Telecommunications and Technology
Projected Board Date
May 30, 2006
Status
Completed
Sector
Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
Department
WBG Digital and AI
Environmental Category
C - No Impact
Previous Events
Approved : Aug 4, 2006
Signed : Aug 31, 2006
Invested : Nov 8, 2006
Project Description
TV3 Russia (TV3 or the company) is a free-to-air television broadcasting group in Russia, and an existing client of IFC. TV3 focuses on broadcasting entertainment-related content to a potential audience of 54 million viewers (37% of the Russian population) through a group of 57 terrestrial affiliate stations, 20 of which are 100% subsidiaries of the company. The company’s activities are consolidated in a sole purpose holding company, called Independent Network Television Holding Limited (“INTH”), incorporated in Cyprus.
TV3 has implemented a growth strategy over the last few years involving both organic growth and the acquisition of select television stations as the company has expanded its broadcasting network across Russia. To continue its growth path and take advantage of the expected high growth rates of the advertising market in Russia, the company intends to raise new debt of about $40 million to:
- refinance its existing long-term debt;
- further improve programming; and
- further fund the Group’s acquisition program.
TV3 has implemented a growth strategy over the last few years involving both organic growth and the acquisition of select television stations as the company has expanded its broadcasting network across Russia. To continue its growth path and take advantage of the expected high growth rates of the advertising market in Russia, the company intends to raise new debt of about $40 million to:
- refinance its existing long-term debt;
- further improve programming; and
- further fund the Group’s acquisition program.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Mitchell Krasny, Chief Financial Officer
TV3 Russia
4/4 Akademika Koroleva St.
Moscow 129515
Russia
TV3 Russia
4/4 Akademika Koroleva St.
Moscow 129515
Russia