Disney Forms JV To Launch Russian TV Channel

This story was written by David Kaplan.
Even though the global financial meltdown has been affecting Russia as well, media companies still see enough growth potential to make entering that market worthwhile. The Walt Disney (NYSE: DIS) Company has entered into a joint venture with Russian cable company Media-One to create a free-to-air Disney channel. The channel, which will be available on 30 local stations in Russia, will also feature Disney kids and family fare as well as content acquired in Russia.  Though the deal's specifics weren't disclosed, Disney will retain a 49 percent share of the company for its cash investment. Release

By David Kaplan