Russia’s National Media Group (NMG) has acquired a 50% stake in the film production company Art Pictures Studios from its founders for an undisclosed fee.
According to Kommersant, Dmitry Rudovsky, one of the founders, will no longer have an ownership interest. At the same time, Fyodor Bondarchuk, the other, will retain a 50% share. However, Rudovsky will continue to produce films and serials for Art Pictures Studios, as well as be responsible for international distribution.
Art Picture Studios has been producing feature films for 15 years and in 2012 its founders also created a company named Art Pictures Vision, which began to produce TV shows.
In 2014 NMG acquired a 50% stake in Art Pictures Vision, later increased to 80%. At the same time, it signalled its intention to buy 50% of Art Pictures Vision, this has been delayed until now.
NMG is one of the leading groups in Russia’s TV industry. Its assets include Channel One, Ren TV and Viasat Russia.