Oligarch Rinat Akhmetov decided that his investment company SCM would exit its media business completely.
Media Group Ukraine will give up all licenses of their television channels for terrestrial and satellite broadcasting, as well as print media licenses, for the benefit of the government, according to Akhmetov’s statement published by the SCM group.
"I made an involuntary decision that my investment company SCM will exit its media business. This week, Media Group Ukraine will surrender for the benefit of the State all Ukrainian licenses of our television channels for terrestrial and satellite broadcasting, as well as print media licenses. We shall also cease operations of MGU’s online media," Akhmetov said.
The businessman said that the decision was dictated by the entry into force of the Law of Ukraine on the Prevention of Threats to National Security Related to the Excessive Influence of Persons who have Significant Economic or Political Weight in Public Life (Oligarchs).
Akhmetov stressed that he has never been an oligarch. However, the six-month term stipulated by the Law for the sale of media assets, as well as Russia’s military aggression against Ukraine, make it impossible for SCM to sell its media business on market terms.
Akhmetov pointed out that the media holding company included 10 terrestrial and satellite TV channels, online resources, print media, and a modern media production ecosystem. The total amount invested in it exceeded $1.5 billion.
According to the President’s order, during martial law, all national television channels are united as part of a single information platform for strategic communication, a 24/7 telethon United News #UArazom (UA together).
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