Viacom And ProfMedia To End MTV Partnership In Russia

Viacom International Media Networks and Russia’s ProfMedia will dissolve their partnership at the end of May next year. The decision, the companies said, was mutual. In 2007, Viacom licensed MTV Russia and VH1 Russia to ProfMedia in a reported $360M deal. VIMN today said Russia “remains a critically important market” where the company is “exploring many opportunities for MTV.” The flagship channel recently celebrated year-on-year ratings gains in the territory and a joint statement notes, “While the two companies have different visions for the future, both VIMN and ProfMedia are committed to providing Russian audiences with the best in music and entertainment through their new ventures.” MTV’s music channels which VIMN operates in Russia (more…)

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