Gazprom-Media eyes RuTube

One of Russia's largest media holdings Gazprom-Media is in talks to purchase the video sharing website RuTube – a Russian counterpart of the global U.S. web-portal YouTube.

RuTube's owners are ready to sell the website as soon as the end of the year for between 5 and $ US10 MLN, according to reports in Russian business daily Kommersant.

Gazprom-Media owns controlling stakes in several TV-channels, radio stations and magazines and is planning to invest up to $ US 100 MLN on Russian internet sites next year.