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. Last Updated: 07/27/2016

11/17/1999

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Embattled NTV Seeks Foreign Partner

The Media-MOST empire, which is in the midst of a bitter election-season confrontation with the Kremlin, confirmed Tuesday it is negotiating the sale of a 15-percent stake in its flagship NTV television station with an unspecified foreign investor. ""Plain bargaining is under way,"" Media-MOST spokesman Dmitry Ostalsky said. ""The seller wants to get a better price for its product, and the buyer wants to buy it cheaper."" He would not disclose the potential partner, saying only that several foreign investment funds, and not media companies, are bidding for a stake in Vladimir Gusinsky's empire. The negotiations have been under way for several months. Media-MOST denied the stake was being sold to cover tens of millions of dollars in alleged debts to state-controlled banks.

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