Russian Group Finam to Acquire 50% of German Deluxe Television

Yakov is reporting that Russian financial group Finam along with a group of Russian investors have acquired a minority stake in Deluxe Television. There are plans to increase the share to 50% by year-end. Deluxe Television is a Munich-based broadcaster of music television channels. Yakov notes a daily audience for Deluxe Television of 5 million people and he explains the current state of Deluxe Television:

Founded in 2004, Deluxe owns a free-to-air music television channel, Deluxe Music, seven pay-TV music channels (rock, soul, lounge, jazz, etc), two radio stations, the music label Sashimi Records. It also has an online shop where users can download songs and buy DVDs, CDs and merchandise. Deluxe tests a high-definition music channel to be launched later in 2008.

You might remember the name Finam as they were the venture capital firm for Russian contextual ad firm Begun which was recently acquired by Google.