Disney Buys Stake in Russian TV Network to Expand Disney Channel

Oct. 27 (Bloomberg) -- Walt Disney Co., owner of ABC television, agreed to buy a 49 percent stake in Russia’s SevenTV network and will rename it the Disney Channel.

Disney is acquiring the stake from United Television Holding Russia, a Moscow-based TV broadcaster, the Burbank, California-based company said today in a statement. Financial terms weren’t disclosed.

The U.S. entertainment company currently provides Disney Channel programs to cable and satellite operators in Russia. SevenTV reaches more than 75 percent of the country’s viewers through a network of stations, according to the statement. United Television Holding also owns the MUZ channel, which targets 11-to-34-year-old viewers.

--Editor: Rob Golum, Peter Elstrom

To contact the reporter on this story: Ronald Grover in Los Angeles at rgrover5@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net