Akado# clears the decks
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ThE MaStEr
2010-11-12
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Akado# clears the decks
By Chris Dziadul
Published: November 12, 2010
The Russian cable operator Akado has rung in the changes ahead of a possible change in ownership.
According to CNews, the company has removed the management and abolished the position of president, until now held by Mikhail Silin. The latter function has been transferred to Denis Lobanov, the head of Akado-Stolitsa.
Moves to sell Akado to the national telco Svyazinvest got under way in August but subsequently failed to materialise. However, the operator, which is 100% owned by the Bahamas-registered Renova Media Enterprises, is still on the market.
Akado is one of the leading cable operators in Russia. As of Q1 2010 it had 670,000 broadband and 446,000 pay-TV subscribers, the majority of who – 600,000 and 432,000 respectively – were in Moscow.
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