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Kovalchuk’s Media Group and RTL May Swap Assets, Kommersant Says

National Media Group, controlled by Russian billionaire Yury Kovalchuk, and Luxembourg-based RTL Group are close to completing an asset-swap transaction, Kommersant reported, citing an unidentified person familiar with the matter.

National Media may get 30 percent of Russia’s REN TV, making it the channel’s sole owner; RTL may get 7.5 percent of National Media’s shares and a place on its board, the newspaper said. An RTL representative declined to comment and National Media’s general director, Alexander Ordzhonikidze, neither confirmed nor denied the information about the transaction, Kommersant said.