๐ Telesport Declared Bankrupt
The Moscow Arbitration Court has declared JSC Telesport Group bankrupt. The company acted as an intermediary in acquiring broadcasting rights to major international sporting events, including the Olympic Games and the UEFA European Football Championships.
The company itself filed for bankruptcy. The court found that its liabilities exceeded the value of its assets and opened bankruptcy proceedings for the subsequent sale of assets.
In 2023, Telesport Group faced a series of lawsuits over failures to fulfill obligations related to the sale of TV rights. The most high-profile case involved accusations from the video service Okko, which claimed that Telesport unlawfully suspended and resold the broadcasting rights to Euro 2024 qualifying matches to the Match TV channel.
The largest claim, totaling RUB 3.9 billion, was upheld in November 2024 following a lawsuit filed by a namesake company, LLC Telesport Group, founded by SberEntertainment and National Media Group.
