Media Group Ukraine

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Media Group Ukraine
Company typeMedia Holding
IndustryMass media
Key people
Yevgeniy Bondarenko
CEO
ProductsTelevision, broadcasting, scenery, sales houses, new media, movies, entertainment, commercials production
Websitemgukraine.com/en/

Media Group Ukraine (Ukrainian: Медіа Група «Україна») was a media holding company that manages System Capital Management Group's television and new media projects. The holding company is a professional investor in Ukrainian media business. Media Group Ukraine was one of the largest media holding companies in Ukraine.

In July 2022, it was announced that Rinat Akhmetov (sole owner of the media group) had left the media business.[1] It was announced that Media Group Ukraine plans to give up all broadcast and satellite television licenses and print media licenses in Ukraine in favor of the state, as well as the termination of online media. Akhmetov explained the decision by citing Ukraine's new law on oligarchs, though insisted that he "was not, am not and will not be an oligarch."[2][3] However, Forbes Ukraine reported that the Media Group Ukraine cost $100-150 million USD per year, thus it was not profitable business and Akhmetov decided to cut costs during the ongoing war with Russia.[4] On 21 July 2022 the National Council of Ukraine for Television and Radio canceled the licenses of the eight TV channels of Media Group Ukraine.[5]

Subsidiaries

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The company was established in 2010 and included:

Media Group Ukraine' channels its principal investments into development and promotion of existing business areas and technologies and into new, prospective projects.

References

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