Raduga TV faces liquidation

The owners of Russian pay TV operator Raduga TV’s holding organisation, DalGeoKom, have decided to liquidate the company.

Raduga TV was forced to close down its operations last year after it failed to obtain a broadcasting licence. The company is 50% owned by Sweden-based free and pay TV operator Modern Times Group.

The company stopped broadcasting at the beginning of December, after Russian regulator the Roskomnadzor had refused to grant a licence.

In October the Roskomnadzor asked the Russian Interior Ministry to launch a criminal investigation into Raduga TV, which has been operating since 2009.

MTG wrote off its stake in the company in February and recorded a SEK147 million (€16 million) impairment charge in its Q4 2013 operating income.

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