Press releases | Archive 2014
RBC reaches agreement to sell online media platform Utro.ru
Moscow, March 5, 2014 - RBC OJSC (Moscow Exchange: RBCM) hereby announces that the agreement has been reached with EDevelopment on the sale of the online newspaper Utro.ru. The deal, along with financial settlements, is expected to be completed by the end of this month.
“The sale of Utro.ru is yet another step towards a revamped asset portfolio with a focus on strengthening the RBC brand. Content niches that are in demand with the audience but go beyond the RBC business news scope are covered by the development of theme-based vertical projects. We would like to wish Utro.ru successful development and growth,” RBC CEO Nikolay Molibog said.
“The acquisition of Utro.ru is a major deal for our young investment company. We will be able to assess the success of this enterprise after a year and a half or two years. Meanwhile, employees will focus on maintaining and improving the quality of the resource,” CEO of EDevelopment Alexander Petrakovsky said.
Utro.ru is a daily online newspaper covering social, political, economic, and sports news. According to TNS data, the publication’s monthly Russian audience exceeds 4m unique users.
RBC is a leading Russian multimedia holding, with leadership positions in news and business media, as well as in domain name registration and hosting. RBC provides a full coverage of business information via key media platforms and offers means of communications and value-added services on the Internet and on mobile devices. The holding’s aggregate audience exceeds 70m people per month.
EDevelopment (www.edevelopment.ru) is an investment company founded by Alexander Petrakovsky and a group of private investors in 2012. Since its incorporation, the company has launched several projects dedicated to finance and bought into some existing Internet assets. Realty.ru resource was the most notable acquisition in 2013.