Russia’s largest media holdings create advertising alliance

Each participant in the alliance has a 25% stake in the new company

Russia media holdings VGTRK, Channel One, Gazprom-Media Holding and National Media Group established a united company National Advertising Alliance (NAA) for advertising sales. Sales of partners’ TV advertising will be consolidated in NAA, Gazprom-Media Holding said on July 4.

Each participant in the alliance has a 25 percent stake in the new company.

"Implementation of advertising opportunities of founding media holding and provision of services to advertisers will be the core business of the new company. Consolidation of efforts in creation of a trading floor addressing interests of all stakeholders in dynamically changing media advertising market environment will provide for emerging new capabilities of services offering to various customer segment, make possible to achieve balanced costs management and support stability and economic viability of the advertising segment in the midterm and strategically," NAA Chief Executive Oganes Sobolev said.

Media holdings were working out on the alliance initiative since 2014. The consolidated trading floor is expected to address interests of the TV industry and support balance of interests of advertisers and broadcasters.

Source: Tass.com

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