Ted Turner Confirms Agreement with Vladimir Guzinsky for Stake in NTV

Apr 04, 2001, 01:00 ET from Turner Ventures International

    ATLANTA, April 4 /PRNewswire/ -- Turner Ventures International, an
 investment vehicle formed by international businessman Ted Turner, confirmed
 today that it has reached an agreement with Vladimir Guzinsky that, pending
 the successful negotiation of a similar contract with Gazprom and
 Gazprom-Media, would ensure the future of the Russian television networks NTV,
 TNT and NTV+ as free and independent media companies.
     Mr. Turner stated, "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.  In earlier negotiations with Gazprom, we both agreed
 that no one party should have control of NTV and we are pursuing that course.
     "I am committed to the promotion of free and open media around the world,
 and highly value the journalistic staff that drives NTV and consider them to
 be highly professional and dependable.  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."
 
 

SOURCE Turner Ventures International
    ATLANTA, April 4 /PRNewswire/ -- Turner Ventures International, an
 investment vehicle formed by international businessman Ted Turner, confirmed
 today that it has reached an agreement with Vladimir Guzinsky that, pending
 the successful negotiation of a similar contract with Gazprom and
 Gazprom-Media, would ensure the future of the Russian television networks NTV,
 TNT and NTV+ as free and independent media companies.
     Mr. Turner stated, "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.  In earlier negotiations with Gazprom, we both agreed
 that no one party should have control of NTV and we are pursuing that course.
     "I am committed to the promotion of free and open media around the world,
 and highly value the journalistic staff that drives NTV and consider them to
 be highly professional and dependable.  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."
 
 SOURCE  Turner Ventures International