Russia's Oldest Studio is Privatised

The Russian government decided to sell its entire stake in Moscow's Gorky studios against the wishes of studio chief Stanislav Yershov, who campaigned for the retention of a 25% plus one share public stake to prevent the studio from being exploited by property developers.

As many as 15 prospective buyers were expected to bid at the auction.

The studio was founded in 1915, and was known for its Soviet children’s and youth films.   The studio produced the classic 1957 civil war film And Quiet Flows the Don, and the 1970s TV series Seventeen Moments of Spring.

Stanislav Yershov (head of Gorky Studios): ‘Although the government has decided to sell 100% of its holding we are optimistic that sufficient safeguards and mechanisms to ensure that Gorky remains a centre of film production will be put in place.   It is essential that the new owner does not change its profile.’ [ADD]

2008

Russia: 2008