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News

The Bank of Moscow has sold the "Evening Moscow" newspaper to the city hall

City government continues to gather media assets into a holding company.

 "Evening Moscow" concern, which belongs to the Bank of Moscow, has sold its share in the "Evening Moscow" newspaper to the State Unitary Enterprise "Moscow property". "Evening Moscow" press service reported that the previous ownership structure did not meet the requirements of the operational management.

“The "Evening Moscow" newspaper was involved in the rebranding process during the last year. Now we have already reached the second highest audience in Moscow. We have a five-year investment plan as an edition’s break-even point. And now we walk ahead of the business plan,” says Alexander Chekshin, the CEO of "Evening Moscow". He adds, that the change of ownership will simplify the operational newspaper management.

“Our consumers, our readers, our subscribers will feel this changes. For example, we will provide them with the better quality of newspapers delivery and new possibilities for acquaintance with the content”, says the newspaper chief editor Alexander Kupriyanov.

Maxim Klyagin, the "Finam Management" analyst is sure that with the lapse of time "Evening Moscow" may join to the "Moscow Media” holding company, which combines all the city hall’s media assets: "Moscow. Confidence "and" Moscow 24 " TV channels, "Moscow is speaking " radio station, etc. He says that after the restart "Evening Moscow" position in the market has really improved. That is why it's interesting asset. It may be of interest to government’s media portfolio. At the same time, experts believe that the newspaper’s cost was not too expensive or it was transferred for a nominal sum.

Source: Izvestia.ru