Rambler [LSE: RMG] has decided to sell their TV business ‘Rambler TV’ to Osgora Productions Ltd, a 100 pct subsidiary of Prof-Media, a Russian media holding company for US$23.
According to their press release this will allow them to “concentrate on growing its core Russian language internet business”. They have recently made some interesting moves in the area of video content sharing (Rambler Vision) and video blogging (Rambler Planet).
Rambler hold 17-18% market share in Russia, but Google has been making ground and they are fighting it out for second place position. According to LiveInternet, Google now overtakes them occasionally.