CNN has pulled the plug on broadcasting in Russia, Bloomberg reports, with the move coming after the country passed a new law that limits foreign ownership in media companies.
“Time Warner’s Turner Broadcasting division said it hopes to resume broadcasting eventually, according to an e-mailed statement. The move was first reported by Russia’s Vedomosti newspaper. CNN’s Moscow bureau operations are unaffected, according to the statement,” the article notes.
In the statement, Turner wrote, “Turner International is assessing its distribution options for CNN in Russia in light of recent changes in Russian media legislation. We are bringing our existing distribution relationships to an end while we do that. We hope to re-enter the market in due course, and will notify our partners of any update about resuming these services.”
The law requires Russian media with foreign owners to reduce non-Russian ownership to 20 percent by the end of 2016, Bloomberg notes.