Epress.am News from Armenia
Starting on Jul. 1, the first Russian-Armenian TV channel, TV ARM RU, may cease broadcasting and declare bankruptcy due to creditors claiming early and full repayment of loans.
Management and staff of the TV channel, which began broadcasting in April 2010, are turning to television viewers for assistance by making donations to save the channel.
Head of TV ARM RU’s board of directors is the head of remittances at Anelik money transfer system, Armen Kazarian. It was reported earlier that the channel was offering additional shares and intended to offer a minority stake to TV ARM RU investors.
A number of Armenian media then reported that 100% of the company’s shares were purchased for $7 million USD by a Russian businessman of Azerbaijani origin, which led to the dismissal of a significant number of employees.
TV director Tatevik Agamiryan, speaking to Lragir.am, confirmed the news that the businessman expressed interest in buying TV ARM RU, but she denied reports of its sale.
Furthermore, Agamiryan assured Panorama.am that all political and strategic nuances will be taken into account at closing.
Note, TV ARM RU has been in the Russian TV market for a year and is broadcast from three satellites throughout Russia, Europe, CIS and the Baltic countries, as well as through 120 cable networks in 450 cities in Russia.