Gazprom-Media in Talks to Buy RuTube
RuTube.ru, Russia’s answer to YouTube, is in negotiations to be acquired by Gazprom-Media in a deal that could value the video sharing site at $20 million, according to the Quintura blog.
Founded in November 2006, RuTube has 300,000 daily users and does more than 40 million video views per month. It was the first online video community in Russia.
Gazprom-Media has one of the largest stables of media properties in Russia and Europe, with TV stations, radio stations, magazines and more.
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[...] take is that the deal is overvalued. RuTube and Gazprom were reported to have been in talks at a valuation of $20 million in January. Kommersant says venture fund ABRT [...]
Report: RuTube to be Sold for $15M «…
— 9:46 AM on March 6, 2008
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This is sad. Keep in mind Gazprom is Putin/the-government, so this deal is like Geoge W. Bush or the Republican Party buying YouTube.
Sad day for democracy and free press in Russia.