Economy 2024-05-15T10:56:24+03:00
Ukrainian news
Dragon Capital Buys Radio-Era TRC, Former Owners Explain Sale By Pressure Of Authorities

Dragon Capital Buys Radio-Era TRC, Former Owners Explain Sale By Pressure Of Authorities

television, radio, Radio-Era TRC, Dragon Capital Investments, acquisition, Radio-Era

Former owners of the Radio-Era TRC say they had to sell the television and radio company because of the pressure exerted on the company by the Ukrainian authorities.

This is said in a statement posted on the website of the Radio-Era TRC, Ukrainian News Agency reports.

"We all see that the authorities continue their systemic offensive on freedom of speech, which is represented by permanent intimidation of journalists, unfounded inspections, arrest of journalist Kotsaba, closure of the Vesti Radio, lasting cavil and insinuations regarding television channels 112 Ukraine and NewsOne, searches at '1+1', the arson of Inter, pressure on the television channel Zik and its owners, persecution of the website, prohibition of social networks," reads the statement.

The former owners state that the company faced the same problems.

"The pressure on us has led to a trick ending - the sale of the shareholding to the investor with American roots who will be able from the point of international legal and political practice to provide protection of the right to independent and professional journalism. The final decision was made when we got absolutely sure that the new owners would preserve major values and principles of our media, namely: professional coverage of topics important to the public, absence of any censorship, the pro-Ukrainian position, the artistic freedom, the balance of opinions and social journalism," reads the statement.

The statement reads that the new owners understand what the freedom of speech is.

The concept of the development of the holding company envisages transition to the infotainment.

The Dragon Capital Investments company has completed acquisition of the Radio-Era television and radio company.

The press service of Dragon Capital announced this in a statement, Ukrainian News Agency reports.

Thus, Dragon Capital has extended its presence in the media space of Ukraine.

"The radio station will be an important addition to Dragon Capital's media portfolio, which includes the weekly newsmagazine Novoye Vremya and same-named internet portal. Since its launch in 2014, Novoye Vremya has risen to leading positions in both the print and digital media segments in Ukraine," reads the statement.

The statement reads that Novoye Vremya editor-in-chief Vitaliy Sych will continue to oversee Dragon Capital's media portfolio. Prior to his current position, he led the newsmagazine Korrespondent for 10 years.

"Taking charge of the Radio-Era FM project will be Valery Kalnysh, who previously led the daily newspaper Kommersant, Vesti radio, and RBC-Ukraine internet portal," reads the statement.

"We are happy to be adding Ukraine's oldest talk-show radio station to our portfolio and currently are not planning any revolutionary changes there," the press service quoted Tomas Fiala, CEO of Dragon Capital, as saying.

According to the statement, Radio-Era will shortly receive additional investments for its technical modernization.

"We are certain that combining the radio broadcasting experience of Era staff and the digital and print expertise of Novoye Vremya will produce major synergies, facilitating mutual content generation and promotion," the press service quoted Vitaly Sych, editor-in-chief of Novoye Vremya, as saying.

As Ukrainian News Agency earlier reported, founded in Kyiv in 2000, Dragon Capital is one of the largest groups in Ukraine working in the field of direct investments and financial services and provides full range of investment-banking and broker services for corporate and private clients.

Major shareholder and managing director of Dragon Capital is Tomas Fiala.

Dragon Capital has 15-year record of successful direct investment in Ukraine.