Ukrainian billionaire Rinat Akhmetov has decided to withdraw his company SCM’s investment from the country’s media industry.
In a statement released by Media Group Ukraine (MGU), one of the four major media groups in Ukraine, he said: “I have made the forced decision to leave my investment company SCM from the media sector.
“This week, MGU will relinquish all broadcast and satellite TV licenses of our channels and licenses of our print media in Ukraine to the state. We will also shut down Moscow State University online media.
“This decision was dictated by the entry into force of the law “On the prevention of threats to national security related to excessive influence of persons who have significant economic and political weight in public life (oligarchs)”. As the largest private investor in Ukraine’s economy, I have repeatedly said that I was not, am not, and will not be an oligarch. The short six-month deadline set by law for the sale of media assets and the Russian military aggression against Ukraine do not allow SCM to sell the media business on market terms.
“For more than 20 years, starting in 2000, together with journalists, we have created a media holding based on the principles of freedom of expression, truth and professionalism, consisting of 10 broadcast and satellite television channels, Internet resources, print media and a production media ecosystem. The total amount of investment invested in this media holding exceeded $1.5 billion. But the biggest investment is the contribution of each of the 4,000 journalists and employees of our media team. Thanks to your work, the channels “Ukraine” and “Ukraine 24” became the leaders in Ukraine in terms of viewership, and the channels of the “Football” group gathered millions of fans in front of the screens. Therefore, it is difficult for me to make the decision to leave the media sector.
“I want to thank everyone for our joint work and for our common success. And, of course, special gratitude to each of our viewers and readers. Thank you for your love, for your loyalty. We have always worked only for you!
