Viacom Dumps MTV / VH1 Russia For $360 Million
Wayfarer Media Limited, the holding company of the MTV Russia and VH1 Russia TV networks, has been purchased by Estermina Ltd. Wayfarer had been 53% owned by Viacom’s MTV Networks International, 42%-owned by private equity firm Russia Partners and 5% owned by the European Bank for Reconstruction and Development. Estermina, a company acting on behalf of Russian diversified media company Prof-Media, operates a nationwide chain of...
Internet Broadcasters File Emergency Stay To Halt Rate Increase
The Digital Media Association, NPR and the Small Commercial Webcasters Group filed an emergency stay in the U.S. Court of Appeals to delay higher royalty rates for Internet radio broadcasters. The motion requests that the court delay the “radical and arbitrary” recording royalty rate increase imposed by the Copyright Royalty Board on May 1st. Legislation that would repeal the increase is pending in the U.S. Senate and...
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