News Corporation announced on May 30 that it had completed acquisition of a 30% stake in TV Riga. News Corporation has increased its ownership of the Russian language free-to-air broadcaster to 100%.
The company, under CEO Rupert Murdoch, said in a press statement that the transaction was a consolidation of News Corporation European Television's (NCE TV) assets in Latvia. NCE TV also owns 100% of LNT, the leading Latvian entertainment channel. In addition, NCE TV has holdings in broadcasters in Bulgaria, Poland, Turkey, and Serbia. New Corporation trades on the New York Stock Exchange.