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CNN Connection:

http://www.bizjournals.com/atlanta/stories/2001/04/02/daily30.html?jst=s_cn_hl

>>> The Washington Post reported Turner and an investor group that includes international financier George Soros signed a $225 million deal on Tuesday to buy out Gusinsky.<<<<

April 4, 2001
Ted Turner confirms Russian television network buy

Turner Ventures International, an investment vehicle formed by CNN Founder Ted Turner, confirmed it has reached an agreement with Vladimir Guzinsky, the owner of Russia's only independent television network, to buy a share of NTV.

Pending the successful negotiation of a similar contract with Gazprom and Gazprom-Media, which took over NTV on April 2, the agreement would ensure the future of the Russian television networks NTV, TNT and NTV+ as free and independent media companies, Turner Ventures said.

"While we are disappointed with the recent disruptive developments regarding NTV, we look forward with enthusiasm to finalizing an agreement with Gazprom and Gazprom-Media that will ensure the ongoing independence of NTV," Turner said in a written statement. "In earlier negotiations with Gazprom, we both agreed that no one party should have control of NTV and we are pursuing that course. Our goal is to secure the financial underpinnings of the company and establish a mechanism for growing the business in order to strengthen NTV's prominence and scope throughout Russia."

The Washington Post reported Turner and an investor group that includes international financier George Soros signed a $225 million deal on Tuesday to buy out Gusinsky.