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By Robin Munro
Staff Writer

Ekho Moskvy Staff Threaten to Resign

The Moscow Times, Thursday, May. 17, 2001. Page 3

Ekho Moskvy's chief editor said Wednesday he is prepared to take his 90-member staff to second-tier television station TV6 if the journalists fail to obtain a controlling stake in the independent radio station. The threat appeared to be a preemptive move by editor Alexei Venediktov to prevent state-connected creditor Gazprom-Media from gaining control of Ekho Moskvy. The radio is now controlled by a team loyal to Media-MOST. Gazprom-Media ousted the editorial team of debt-ridden NTV television last month after taking over Media-MOST shares.

Venediktov said that a group of journalist shareholders hope to buy from Gazprom-Media enough shares to give them a stake of more than 50 percent in the radio station. "If Ekho Moskvy falls under the control of the government, I will leave the station," Venediktov said by telephone. "If we don't succeed in buying a controlling stake, then there are options of going to TV6, starting a new radio station or I might return to school teaching." Ekho Moskvy is the only national radio news broadcaster that is not under state control. Gazprom-Media is a subsidiary of natural gas giant Gazprom, which has been taking over the assets of debtor Media-MOST. Media-MOST says the takeover is politically motivated. Gazprom-Media says it is trying to recoup its loans.
Gazprom-Media had no comment Wednesday. Venediktov said the journalists have a 28 percent stake in EkhoMoskvy, which, combined with Media-MOST's 14.5 percent stake, leaves them 8 percent short of a controlling stake. Gazprom-Media owns a 25 percent plus one share stake. Two percent is owned by NTV, 5 percent is held by disinterested parties and 25 percent has been frozen by a court order in a dispute between Media-MOST and Gazprom-Media, according to Ekho Moskvy general director Yury Fedutinov. "The best outcome would be that no one has a controlling stake," Fedutinov said in a telephone interview. Venediktov apparently fears that the best outcome will not happen, so he has taken his quest to secure a controlling stake to Gazprom-Media, the Press Ministry and the presidential administration. He said he felt confident that his team would retain a loyal audience wherever they worked, but conceded that getting a license to open a new station could be difficult. "We think that the financial problems can be solved relatively easily. The harder ones to solve are the political ones," Venediktov said. TV6 spokeswoman Tatyana Blinova said the channel would try to accommodate Venediktov and his journalists if need be. A team of journalists from NTV flocked to TV6 after Gazprom-Media took over the station in April. Ousted NTV general director Yevgeny Kiselyov was appointed TV6's general director on Monday. Also Monday, a dispute reared its head over TV6's solvency when the channel's minority shareholders announced they had started bankruptcy proceedings in court.

The Moscow arbitration court said Wednesday that it will consider on May 31 a lawsuit by the LUKoil-Garant pension fund to liquidate TV6, Interfax reported. It is to hear on June 7 a LUKoil-Garant suit to invalidate a March 29 meeting in which Boris Berezovsky took control of TV6's board. Berezovsky owns 75 percent of TV6. The court will also hear June 7 a lawsuit contesting Monday's shareholders meeting that resulted in Kiselyov's appointment, Interfax said. LUKoil-Garant, which holds a 15 percent stake in TV6, and the Moscow City Hall-connected MKNT Co., which holds 10 percent, unsuccessfully opposed the appointment.

See the original at:
http://www.themoscowtimes.com/stories/2001/05/17/011.html

The Moscow Times, Thursday, May. 17, 2001. Page 3

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