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Metromedia has sold its Cosmos TV share

Author: Mikhail Doroshevich


American company Metromedia has sold its Cosmos TV share. Cosmos TV is a major cable TV operator in Belarus. The share of 50% has been bought by Dominik Reed , former Metromedia cable department manager.

In Belarus Cosmos TV has 37 000 subscribers. Its turnover totaled $2,9 mln. in 2003. "We've got $38 from every Cosmos TV client. And we are very satisfied with the results, especially if one takes into account political implications in the region", said Erni Pyle , Metromedia financial director.

Interests of Dominick Reed have been represented by Star Broadband, company which is registered at British Virginia islands. The company has bought American International Telcell company which possessed 50% share of Belarusian operator, having paid $0,7 mln.

Dominick Reed hopes for success because his partner in Cosmos TV is Republican Radio and Television Broadcasting Center, having other 50% of company, is a state company holding very firm and stable positions on the market.

Dominick Reed is planning to invest into TV cable companies in other CIS countries, including Russia.

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