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Turner becoming Russian TV mogul

AOL Time Warner Vice Chairman Ted Turner is moving ahead to buy a stake in Russia's only independent television network, NTV, as journalists fought to fight a takeover by government-owned natural gas producer Gazprom, which owns 49% of the channel.

CNN founder Turner said Wednesday he had agreed in principle to purchase 30% of NTV from founder founder Vladimir Gusinsky. But while supporters praise NTV for independent coverage of Russian leaders, critics point to charges that Gusinsky is bilking the operation and his house arrest in Spain on fraud charges.

In the middle is the Europan arm of Capital Research Management, probably the most important U.S. investor in media.
- John Higgins