STB, Novy, ICTV television networks list Pinchuk couple as beneficiaries
The owner of EastOne investment and consulting group and Interpipe Corporation Victor Pinchuk and his wife, daughter of former Ukrainian President Leonid Kuchma, Olena Pinchuk, are ultimate beneficiaries of STB, Novy, ICTV and QTV television networks, which are part of StarLightMedia Group.
The TV networks published the information to meet new legislation on disclosure of ownership structure.
The Pinchuk couple is beneficiaries of four trustees, which are discrete and managed in their interests, from France, Britain, Switzerland and Jersey. They via several companies in Hong Kong, Seychelles, British Virgin Islands and Samoa own Cypriot Starlight Media Limited.
The latter via chains from a Cypriot company to a Ukrainian company is a majority shareholder with stakes close to 100% in private joint-stock company International Media Center-STB, Novy Kanal LLC, International Commercial Television and Radio Company (ICTV) and Khmarachos Media LLC (QTV).
Victor and Olena Pinchuk also control minor stakes in these companies via Ukrainian companies – Sagittarian Firm and Para-Avis.
Teleodin LLC, the broadcaster of M1 and M2 music TV, part of StarLightMedia Group, has another ownership structure. Starlight Media Limited via the traditional chain – a Cypriot company and a Ukrainian company – own only 10%. Former MP Mykola Bahrayev controls more 10% in the company.
The rest of 80% in Teleodin belong to Ukrainian Youth-Music TV Channel M1 LLC. Bahrayev holds 49% in the company, StarLightMedia 40%, Olena Pinchuk 10% and Viktor Volosiuk 1%.