System Capital Management (SCM) is starting procedures for terminating the production of print media and revoking the licenses of Media Group Ukraine.
This is stated in the SCM message with reference to Akhmetov, Ukrainian News Agency reports.
According to the statement, the relevant documents will be sent to authorized state institutions starting from July 12, 2022.
In particular, it is about all state licenses for broadcasting and for a software service provider received by Media Group Ukraine from the state, while at the same time the process of stopping the production of print media owned by Media Group Ukraine will begin today.
"According to the legislation of Ukraine, the cancellation of licenses and the satisfaction of the application for the termination of the work of the print media automatically deprives the company-owners of the status of the media and must terminate their activities. The speed of making a decision to cancel the licenses of Media Group Ukraine after submitting the relevant applications is the responsibility of the state. The process, according to the requirements of the law, may take from one to two months. During this period, Media Group Ukraine will continue to fulfill its obligations under license agreements and will continue to broadcast and participate in the national news marathon, as well as in foreign broadcasting (FreeDom). The release of any own projects and the production of content on all TV channels, publications, online platforms of the group is terminated,” the statement says.
Along with the renunciation of licenses for broadcasting channels of Media Group Ukraine, the distribution of these channels abroad, including in Poland, is terminated.
"At 00:00 on July 12, 2022, Media Group Ukraine stopped updating its online media. The mechanism for cooperation with Vogue will be determined separately with the owner of the CondeNast brand through consultations. All relationships with group partners will be discussed separately. All assets of Media Group Ukraine (with the exception of licenses) remain in its ownership. It is about technique and other equipment, a library, intellectual property rights and rights to brands, including Ukraine, Ukraine 24, Segodnya," the statement says.
According to the statement, the future of these assets will be determined by management in the coming days.
"The decision to withdraw SCM from the media business was difficult and forced. We created Media Group Ukraine practically from scratch, together with huge professional teams, we made it the absolute leader of the Ukrainian media market. We planned to create high-quality Ukrainian content further - series, films, shows, news. But the state adopted an absolutely discriminatory law "On the prevention of threats to national security associated with excessive influence of persons with significant economic and political weight in public life (oligarchs)", which makes our further investment in the media in Ukraine impossible. We are not aware of the licenses we have handed over - no preliminary consultations with the authorities have taken place and could not take place. We are grateful to the Media Group Ukraine team for more than 20 years of joint and successful work and will do everything in our power to ensure that the completion of our cooperation with each member of the many thousands of staff is as transparent and humane as possible. This, in fact, is now the most important task for the management of Media Group Ukraine and for us at SCM," said Nataliya Yemchenko, director of public relations and communications at SCM.
As Ukrainian News Agency reported, at 00:00 on July 12, Media Group Ukraine stopped updating its online media.
Businessman Akhmetov decided to abandon the media business in connection with the entry into force of the law on oligarchs.
President Volodymyr Zelenskyy enacted the decision of the National Security and Defense Council (NSDC) dated June 29 to approve the regulation on the register of persons with significant economic and political influence in public life (oligarchs), the procedure for its formation and maintenance.
The law on oligarchs came into force on May 7, 2022.
Media Group Ukraine is a media holding that unites the national TV channel Ukraine, the channels NLO TV, Indigo TV, thematic channels Football 1 / Football 2, Regional Media Group (channels Donbas, Channel 34, Sigma), Digital Screens (OLL.TV, Xtra TV, Ukraine.TV), Tele Pro production company and Segodnya Multimedia holding.
System Capital Management was founded in 2000 and operates in mining, energy, banking, telecommunications, mass media, transport, agriculture, insurance and other areas.
100% of SCM shares are owned by businessman Rinat Akhmetov.
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