13.09.2011
Jed Sunden, founder of KP Media, Petro Poroshenko, founder of the 5th Channel, and Boris Lozhkin, in their joint statement announced the completion of talks on acquisition of KP Media shares.
According to the agreement, Jed Sunden will hold the position of Company’s Executive director in charge of strategic development of KM media projects and the editorial policy. Vitaliy Gorduz retains his position as Director General. No editorial board changes are anticipated. New shareholders of KP media initiated the procedures of legalization of their participation in the company envisaged by the Ukrainian legislation.
“For a great while we have been searching the strategic investor for whom media is business but not means of political influence. UMH and Mr. Poroshenko are the investors who will be developing business component of KP Media project without interfering in the editorial policy” Jed Sunden, KP Media founder, commented on the deal.
Petro Poroshenko, in his turn, stated that “For independent media, the most essential factor is protection from takeover by politically biased structures which is a real threat for Ukrainian media. Today, unfortunately, Ukraine is not an attraction for reputable foreign media investors who, considering the situation in the country could become the guarantors of noninterference in the editorial policy. Those who worked here for some time, withdraw from the market. It is honor for me Korrespondent joins out team. Korrespondent is notable for its impartiality and is one of the deserved leaders in the Ukrainian media market. I am interested in the development of the print and online version of Korrespondent as impartial media with independent editorial staff. That is their strength and the ticket to success”.
“Acquisition of KP media aims at strengthening of the leading position of UMH in the Ukrainian segment of internet. We acquire concurrently a market share, powerful brands and one of the best teams lead by experienced manager Jed Sunden” commented Boris Lozhkin, United Media Holding President.
Investment companies Concorde Capital and Dragon Capital acted as financial advisors for the deal.
United Media Holding (UMH) is the international multimedia conglomerate. UMH internet project portfolio includes 32,5% of one of the largest Ukrainian portals i.ua; most visited sports website football.ua; portal iSport.ua, listed in the top-10 sports portals; frequently visited portals kp.ua, focus.ua, aif.ua, business and finance portaldengi.ua, social journalism network HighWay.
KP media (before March 2006 known as КP Publications) is the leading player in the Ukrainian internet market. The company owns internet portals BigMir.net, Korrespondent.net, Ricardo.com.ua, Novynar.com.ua and politorg.net. The company started its operation in December 1999 under SputnikMedia.net ТМ (since 2006 - Bigmir-Internet). Over the last 10 years Korrespondent.net has remained the most popular news site in Ukraine. KP Media is a public company with the shares listed in PFTS since 2006.
