National Media Group
Founded in 2008 by oligarch Yury Kovalchuk, whom one Russian analyst referred to as “Putin’s long-time friend,” National Media Group (Национальная Медиа Группа), or NMG, is Russia’s largest private media conglomerate. The company controls Channel One, Channel 5, REN TV, CTC Media networks, and the national newspaper Izvestia. NMG operates through a joint venture structure involving state-controlled entities, including Rossiya Bank (the personal bank of senior Russian officials, according to Open Sanctions), the oil and gas company Surgutneftegas, the insurance company SOGAZ, and Gazprom Media, another media conglomerate that with its parent company sits under the Russian oil and gas giant Gazprom. The content of NMG outlets is closely aligned with Kremlin narratives, with several channels facing European bans for operating as state propaganda vehicles.
