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Expert (media holding)

Company

"Expert" - one of publishing houses in the market of business media of Russia.

Owners:
Vnesheconombank is Development bank and foreign economic activity
Basic Element
Gurova Tatyana
Privalov Alexander

Assets

Assets

+ Expert of ID
+ Gurova Tatyana
+ Privalov Alexander

Assets

Magazines

  • Expert
  • Expert Northwest
  • Expert Siberia
  • Expert Kazakhstan
  • Expert South
  • Expert Urals
  • Expert Avto
  • Russian reporter
  • D'

Analytical block

  • RAEX rating agency. Annually prepares the rating of the largest IT companies of Russia.
  • Tender of innovations
  • The innovation university
  • House of the future
  • Practice of development of the cities
  • RA-Kazakhstan

Internet projects

  • Website Эксперт.ру
  • Russian Reporter
  • Финкейк.ру

History

2019: Transcapitalbank began bankruptcy of media holding

In July, 2019 it became known that Transcapitalbank began bankruptcy of Expert media holding because of a debt of 55 million rubles and included this amount of the register of requirements of creditors.

"Expert" Tatyana Gurova, the wife of the member of public chamber Valery Fadeyev manages at this time. "Expert" asks bank to remit a part of a debt, but the bank refuses.

2018: Transcapitalbank collected from Expert 1 million copies of magazines for 2013

At the end of 2019 instead of a debt Transcapitalbank collected from media holding one million copies of the Russky Reporter and Expert magazine for 2013.

2017: Fadeyev left a post of the CEO and sold the share. Gurova is an editor-in-chief

In July, 2017 it became known that Valery Fadeyev does not direct Expert publishing house any more and is not his co-owner any more. According to him, he sold a share in media holding to other shareholder — VEB bank.

Also delivered the share in publishing house to bank in trust management other shareholder of the company - Tatyana Gurova, Fadeyev told. She was appointed the Chief Editor of the Expert magazine, Fadeyev says. Before Gurova held a position of the managing director of ID. Vladimir Morozov is appointed fulfilling a duty of the CEO. Before he was a chief executive of publishing house, Fadeyev told.

Earlier VEB owned 31.2% of stocks of Expert Media Holding Ltd. Fadeyev and Gurova had about 12.9% of stocks. Another 29.3% control structures of Basic Element of Oleg Deripaska. The scientific editor of the Expert magazine Alexander Privalov has 12.9% of stocks IDES, 0.7% - at Dmitry Grishankov.

For many years ID have financial problems, including ID attracted the multimillion loans at the shareholders of VEB. In 2014 the bank increased to Expert the credit line opened for eight years from 100 million to 550 million rubles, but also on the credit the company pays off irregularly, follows from judicial acts.

At the beginning of February, 2017 Transcapitalbank demanded from media holding to return the credit for the amount more than 20 million rubles, follows from a card file of Arbitration court of Moscow. Also to publishing house his being and acting employees, partners, including printing houses regularly submit claims. In total in 2016 to publishing house more than 427 million rubles were given claims for the amount, follows from data of SPARK-Interfax.

Fadeyev explained need to leave capital stock of Expert to Vedomosti with a possible conflict of interest after its appointment as the secretary in Public chamber. At the end of June, 2017 Fadeyev was elected the responsible secretary of Public chamber of the sixth structure, other candidates for this post were not. Fadeyev then said to journalists that the chamber should "take the responsibility for the agenda", explaining, for example, sense of the developed economic programs.

"The conflict of interest is connected with the fact that the agenda of Public chamber is often crossed with the agenda of Expert publishing house, - he told.

The source of Vedomosti in Expert told that it heard that failure from stocks IDES and positions of the Chief Editor and CEO was one of conditions of appointment of Fadeyev to this position[1].

Whether Fadeyev earned the monetary reward for stocks of Expert, he does not open, only specifies that it was the transaction of purchase and sale. According to the join-stock companies law other shareholders have a privilege of redemption of stocks in case of sale of a share of one of shareholders. But if the share is on sale or transferred to one of the acting shareholders, selling is not obliged to make offer to other shareholders about sale of a share. Grishankov told that he did not receive the offer on the redemption of a share. Privalov refused comments.

Two sources of Vedomosti in media holding told that after the transaction a part of employees received payments for the salary, before the publishing house regularly delayed the salary to the employees. According to one of interlocutors of Vedomosti, VEB promised to implement the credit line opened in 2014 to publishing house completely and also to finance further development of the magazine.

2016: Agreement on payment to Globex Bank of 65 million rub of a debt

In December, 2016 the Globex bank (enters into structure of VEB) submitted a claim to arbitration court of Moscow against JSC Gruppa Expert, requiring to exact from it 88.57 million rubles, follows from documents of court. VEB — the large creditor and the shareholder of the media holding of the same name which the defendant enters.

The claim "Globex contra of the Expert Group" came to arbitration court of Moscow on October 13, on December 20 it was accepted to production. The first meeting on case should take place on January 31, follows from a card file of arbitration cases[2].

As a result the settlement agreement according to which Expert had to pay only a debt in 65 million rubles, and the remained amount (the accrued interests) not to pay was signed.

Head company JSC Gruppa expert — Mediaholding Expert Ltd, is specified in SPARK base. Publishing is specified as a core activity of the company.

In the middle of October, 2016 VEB reported that it discusses an issue of financing of Expert media holding and consideration of this question "is in a final stage". The source of RNS then specified that it was talked of selection of an additional loan to media holding.

In 2013 VEB Capital was the largest shareholder of Mediaholding Expert Ltd from shares about 31.2%. The source of RNS close to the management of Expert specified that at the beginning of 2017 the share of bank "is already more". At this time in the SPARK database it is specified that Gurova, Privalov and Fadeyev control 15.4% of media holding, and other co-owners are not specified.

2014: VEB approved issuance of credit for 550 million rub for 7 years

At the beginning of 2014 the supervisory board of VEB approved issuance of credit to media holding on 550 million rubles for a period of seven years.

2013: Closing of Expert TV, the credit of VEB and a request to V. Putin for the help

Financial problems of Expert became aggravated in the spring of 2013. On March 12, 2013 the Expert TV TV channel stopped broadcasting, and the arbitration court of Moscow registered the statement for bankruptcy of Expert TV Company LLC managing it on the same day.

At the end of May, 2013 Expert was come to the aid by VEB which supervisory board approved issue to holding of the credit of 100 million rubles for one year under 9% per annum. Money was supposed to be directed to repayment of priority debts — on salary (28 million rubles) and before the budget (58 million rubles) and also to lease of premises and payment of services of printing house (14 million rubles).

In December, 2013 the CEO of Expert media holding Valery Fadeyev complained to the President of Russia Vladimir Putin of financial difficulties in holding and asked the head of state to help with the solution of the matter, Kommersant writes[3].

According to the edition, at the beginning of December, 2013 V. Fadeyev wrote to the president the letter in which reported that Expert is in difficult financial position in connection with a bad environment of the advertizing market and closing of own TV channel.

"At bankruptcy of media holding several leading magazines and the rating agency leading in the Russian market can be lost, it will be liquidated by several hundred jobs", - V. Fadeyev writes in the letter which was at disposal of Kommersant. Besides, the head of media holding notes that losses will be suffered by the shareholder and the creditor of Expert - Vnesheconombank.

Structures of VEB began to invest in Expert right after crisis 2008. For December, 2013 VEB Capital, subsidiary company of state corporation — the largest shareholder of Mediaholding Expert Ltd from shares about 31.2%, another 29.3% control structures of Basic Element of Oleg Deripaska, at Valery Fadeyev, the managing director of holding Tatyana Gurova and the scientific editor of the Expert magazine Alexander Privalov — on 12.9%, the CEO of RAEX Dmitry Grishankov has about 0.7%.

In turn, in RAEX Ltd of nearly 54.2% — at Mediaholding Expert Ltd, 26% — at mister Grishankov, 19.8% — at "VEB of the Capital".

In V. Fadeyev's letter it is said that the decision on the credit of VEB was "vague" and only worsened situation of holding, having increased its credit loading. Now in VEB the controlling stake of holding because of what management has no right "on any actions regarding search of money without approval", V. Fadeyev complains is put, calling the situation desperate.

In the middle of December, 2013 the question of Expert was submitted for a meeting of the supervisory board of VEB which is headed by the prime minister Dmitry Medvedev. This time "strategic decision" it will be again accepted not, the situation will remain suspended, the CEO of media holding is afraid. According to the source in VEB, there "are surprised with the letter to Vladimir Vladimirovich". At the beginning of December, the interlocutor of Kommersant says, on the last Board of Directors of Mediaholding Expert Ltd it was offered to VEB to put also 99.9% in child Group Expert Ltd, the asset manager of holding, as caused negative reaction from Valery Fadeyev. It agrees available Kommersant of the copy of a voting bulletin, the market value of all actions offered to pledge was estimated at 9990 rub, and mortgage — at 6993 rub.

Position of other shareholder of media holding — Basic Element — the interlocutor of Kommersant in Expert describes so: "I will not give money, but also I will not heat".

2012: Growth of debts to employees

In April, 2012 it became known that the staff of Expert TV TV channel tries to sue salary payment out. According to them, interruptions in payments last more than a year there, but now the situation became critical. In April paid them a salary only for January. Also the Expert media holding owed to the state 2 million rubles for tenancy on Pravdy Street[4].

So far on Expert TV LLC two actions for recovery of the salary are submitted: in February and in March, 2012 from I. Smirnov and R. Bakhroyev respectively. Smirnov requires to exact more than 165 thousand rubles from TV channel, the amount of the second claim is still unknown.

"Now heavy debts at company management before employees. Before many employees the debt of the company is more than 100 thousand rubles. For January paid only at the beginning of April — told on the condition of anonymity the former employee of TV channel which still hopes to achieve payments in a pre-judicial order. — At the same time the channel changed the legal person: earlier it was Expert TV LLC, and now — Expert TV Company LLC.

Besides the company did not list payments in RPF, thus on employee personal accounts for any period of work in Expert TV - receipts zero.

On old, already nonexistent legal person a huge debt, though new already owed the considerable amounts. As the ex-employee of the channel explained to Marker, financial difficulties can be connected with activity of one of shareholders — Vnesheconombank. "The bank had to redeem an additional issue and send money for it, but payments are for some reason delayed" — he concluded.

The CEO of Expert media holding Valery Fadeyev refused to comment on a situation, also the management of Expert TV TV channel refused comments. According to Marker, interruptions in salary payment concern all editions of media holding, including the Russky Reporter and Expert magazines.

Lawyers consider that it is in that case better to file a lawsuit on a centralized basis, these are will facilitate a task to claimants a little, but even singles can protect the rights without special work if all documents as it should be. "If the employment contract is concluded, then the claimant without effort will achieve payments in court even if the defendant changed the legal entity — the lawyer of Nikolaev and Partners Bar Ekaterina Romm says. — But I would advise claimants to demand from court of seizure us the account of the company within an outstanding amount".

The Expert media holding ran into debt also to the state. The office of the company is located in the building of Federal State Unitary Enterprise Pressa on st. However, 24, with p. 4. Lease of the building costs media holding almost 1 million rubles a month. For November and December, 2011 of payment did not arrive, and the state requires 2 million rubles from Expert. The court supported Federal State Unitary Enterprise Pressa. But within a month the media holding can submit the appeal. The company not the first time has legal proceedings with the lessor. In 2009 the media holding ran into debt Federal State Unitary Enterprise Pressa in four months. Collected debt in 1.7 million rubles from Expert. Then the company connected the financial difficulties with crisis.

2009: The Globex Bank purchased 19.8% in ID Expert

In September, 2009 the bank "Globex", "daughter" of Vnesheconombank, purchased 19.8% of authorized capital of media holding. Globex redeemed additional issue of shares of Expert Media Holding Ltd, the CEO of holding Valery Fadeyev told. The representative of Globex confirmed the fact of the transaction and refused further comments[5].

According to sources of Vedomosti in ID, to the transaction with Globex the media holding was controlled by Valery Fadeyev, the managing director of holding Tatyana Gurova and the CEO of Magazine Expert Ltd Alexander Privalov.

In 2009 the commercial director of Kommersant Publishing House Pavel Filenkov estimated Expert at $50 million Fadeyev considers this assessment underestimated many times.

The holding lacks own means to develop the expensive project of Expert TV. Profit of the company (its revenue does not reveal) is made so far only by the Expert magazine and RAEX rating agency, and the Russky Reporter magazine and television remain unprofitable.

2008: Deripaska stops financing of Expert

"Expert", according to Valery Fadeyev, looked for the investor since fall of 2008. Problems with money began at Expert at the end of 2008 when Rainko managing non-core assets of Oleg Deripaska stopped financing of ID. As Fadeyev told in the spring, for development there were not enough "several tens millions of dollars". Then owners of Expert attracted short-term loans of several banks (approximately for $10 million, specified a source in ID).

Notes