News Corporation sells News Outdoor Romania and Russia to VTB Capital

Newsroom 22/07/2011 | 16:10

News Corporation, a company controlled by Rupert Murdoch, has sold the 79 percent stake it owned in outdoor companies News Outdoor Romania and News Outdoor Russia to a group of investors controlled by VTB Capital. The other two shareholders of News Outdoor Romania and Russia are NOOH Investments Cooperatief U.A. and Marathon Outdoor Cooperatief. They both kept their remaining 21 percents.

The transaction is in line with News Corporation’s decision to sell its operations in the outdoor industry, except for those it owns in the Czech Republic.

News Corp. also owns News International, presently at the center of the public controversy surrounding illegal phone hackings in the UK.

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