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. Last Updated: 07/27/2016

Firm Pledges $1 Million

Pioneer Electronic Corporation of Japan agreed Wednesday to contribute about $1 million to sponsor one of Russia's most prestigious musical events, the Tchaikovsky Competition.

The company will contribute $620, 000 toward prizes and lodging for competitors and members of the jury plus several hundred thousand dollars for advertising and public relations, according to a Pioneer Electronic Corporation press release.

Pioneer's sponsorship will cover 40 percent of the cost, Culture Minister Yevgeny Sidorov said Wednesday. The remaining 60 percent will be contributed by the Russian Ministry of Culture and other sponsors, he said.