RMG.L Regulatory News (RMG)

15 Jan 2007 07:00

RAMBLER MEDIA COMPLETES SALE OF TV BUSINESS Rambler Media Limited ("Rambler Media" or "the Company"), the leading providerof internet and multimedia services to the global Russian-speaking community,today announces that the acquisition of its TV business 'Rambler TV' by OsgoraProductions Limited, a 100% subsidiary of Prof-Media, a Russian media holdingcompany, has received all the necessary regulatory approvals and that thetransaction was officially completed on 12 January 2007. The disposal, which was announced on 24 October 2006, reflects Rambler Media'sstrategy to concentrate on growing its core Russian language Internet business,which generates the majority of the Company's total revenue. Rambler Mediareceived a consideration of US$23 million in cash for the sale. The proceedswill be used by the Company to pursue its growth strategy, which may include theselective acquisition of cash-generative businesses that complement RamblerMedia's core internet business activities. *** For further information, please visit www.ramblermedia.com or contact: \* TRambler Media Shared Value LimitedIrina Gofman Nicolas DuperrierTel. +7 495 500 3826 Tel. +44 (0) 20 7321 5010 rambler@sharedvalue.net ING Wholesale BankingDaniel FriedmanWilliam MarleTel. +44 (0) 20 7767 1000 Prof-MediaKonstantin Vorontsov+7 495 787 5335kvorontsov@profmedia.ru\* T ABOUT RAMBLER MEDIA Rambler Media is an integrated and diversified Russian language media,entertainment, services and content delivery company which operates variousinternet properties including the leading Russian language internet portal andsearch engine 'rambler.ru', on-line newspaper 'Lenta.ru', broadband ISP 'RamblerTelecom', interactive advertising company 'Index20', and mobile content serviceprovider 'Rambler Mobile'. Rambler Media's shares are traded on the AIM marketof the London Stock Exchange under the symbol 'RMG'. For more information onRambler Media, visit our corporate website at www.ramblermedia.com. ABOUT PROF-MEDIA Prof-Media holding was established in 1997 and today it is one of the largestand most diversified media holdings in Russia, one of the leaders in thenewspaper, magazine, radio and cinema markets, with a consolidated turnovertopped US$240 million in 2005. The holding is a major private investor in the Russian cinema industry,operating a nationwide cinema exhibition chain 'Cinema Park' along withproduction and distribution company 'Central Partnership'. The holding owns acontrolling stake in newspaper company 'Komsomloskaya Pravda', a magazinepublishing house 'Afisha', and a b2b publisher 'B2B Media'. Prof-Media runs fourFM-frequency radio stations, a number of internet portals and community builderssuch as 'Afisha.ru' and 'E-xecutive.ru', and TV-channel '2x2', that will hit theair in April 2007. For more information on Prof-Media, visit the corporatewebsite at www.profmedia.ru. Certain statements within this announcement constitute forward lookingstatements. Such forward looking statements involve risks and other factorswhich may cause the actual results, achievements or performance of the Companyto be materially different from any future results, achievements or performanceexpressed or implied by such forward looking statements. Such risks and otherfactors include, but are not limited to, general economic and businessconditions, changes in government regulations, and court interpretations of suchregulations, currency fluctuations (including the US$/Rbs rate), competition,changes in development plans. There can be no assurance that the results andevents contemplated by the forward looking statements contained in thisannouncement will, in fact, occur. Any forward looking statements made in thisannouncement represent management's best judgment as to what may occur in thefuture and are correct only as at the date of this announcement. The Companywill not undertake any obligation to release publicly any revisions to theseforward looking statements to reflect events, circumstance or unanticipatedevents occurring after the date of this announcement except as required byapplicable law or by any applicable regulatory authority. Copyright Business Wire 2007