In an impressive cross-border move, AIB member CNBC Europes daily market reports from Europe, Asia and the United States are now being carried on Russia’s first 24-hour business news channel, RBC-TV.
Russian-language RBC-TV is to be “equal to leading Western news and analytical TV channels and adapted for the Russian audience,” the company said in a statement.
RBC-TV has partnered with CNBC Europe and CNN International. CNBC employees were brought in to help train the new staff, and CNBC has a two-year agreement with RBC to allow the network to translate and use its daily market reports from Europe, Asia and the United States. CNN will provide general world news coverage in exchange for the rights to use RBC-TV’s reporting.
RosBusinessConsulting, a Russian business information agency founded a decade ago, has secured $23 million for the project; $17 million from the agency itself and the remaining $6 million through a private debt placement with Western investors, according to the Moscow Times.