Russian search large Yandex has confirmed it has accomplished the sale of its two flagship media property, Novosti and Zen, to native social media large VKontakte following regulatory approval.
– Commercial –
As we reported back in March, Yandex started in search of methods to dump its information aggregator and weblog advice platform within the wake of Russia’s invasion of Ukraine because the Kremlin tightened its grip on the media and free speech in an effort to form the narrative across the very issues it talks about. as a “particular navy operation”. The Russian state has additionally tried to quell anti-war sentiment by elevating dangers for media homeowners. And we perceive that Yandex insiders have begun to name Information and Zen “poisonous property.”
– Commercial –
In a press release at the moment, the Dutch-listed firm introduced that its Russian working subsidiary has accomplished the sale of its information aggregation platform and “infotainment” service Zen to VKontakte, whereas additionally confirming the acquisition of 100% of VK’s meals supply service Supply Membership.
The deal was accredited by the Federal Antimonopoly Service, Yandex added.
– Commercial –
After closing Supply Membership turns into part of the Yandex section “Digital commerce, mobility and supply”. And Yandex mentioned in a press release that beginning at the moment, the model will probably be consolidated within the group’s monetary outcomes, and these modifications must be mirrored in its third-quarter monetary outcomes.
As we reported last monththe sale contains the primary web page of Yandex.ru, which will probably be transferred to VKontakte, and guests to this website will probably be redirected to a renamed model of the web page, dzen.ru, which is managed and developed by VKontakte.
The redirect is predicted to begin later at the moment.
We perceive that the deal to promote Information and Zen to VKontakte was a pure asset swap, with none monetary factor of the deal.
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