Kyiv-based Ukrainian Media Holding (UMH) and the founder of the Fifth TV Channel, businessman Petro Poroshenko, have become strategic investors in KP Media Holding (the bigmir portal and Korrespondent magazine), leaving the post of CEO for its founder Jed Sunden.
"In the person of UMH and Poroshenko we’ve found investors who will develop the business compound of KP Media’s projects, while not interfering in editorial policy," reads a trilateral joint statement, citing Sunden.
The structure and the value of the deal are not being disclosed. Earlier U.S. citizen Jed Sunden said that he had sold his stake in public JSC KP Media (Kyiv).
Concorde Capital Investment Company acted as a financial advisor in the deal.
