JSFC “Sistema” and RWS Formed the Largest Film Production Studio Complex in Russia

JSFC “Sistema” and Russian World Studios (RWS) closed the deal on the 13th March according to which the largest television and film production company in Russia with studios in Moscow, St. Petersburg and Anapa (the Black Sea Coast) was created under the umbrella of RWS.

Under the deal, JSFC “Sistema” will own 51% of the joint venture and RWS management – 49%. Partnership terms assume that borrowed funds will be the major finance source. The Board of Directors will include both JSFC “Sistema” and RWS representatives.

“The strategy of JSFC “Sistema” is aimed at development of the rapidly-growing service industries of economy and at constant search of new possibilities for development. For the Corporation, the film production company established on the basis of RWS is a promising business line with high growth potential. We calculate that RWS will strengthen the position of JSFC “Sistema” not only in the field of video production where we intend to become leaders in three years, but in the paid television and webcasting market as well,” – said Anton Abugov, Deputy Vice President of JSFC “Sistema”.
The new company owns 13 studios, the total area of which is 18,000 m2, the backlots of 7,000 m2 in Moscow and 70 hectares of backlots on the Black sea coast that are in working order. RWS has a large variety of film production equipment from the world’s best producers and provides the whole range of additional film production services.

“Having formed the strategic alliance with “Sistema”, RWS is ready to establish a fully integrated company that is represented in all the industry sections: from production, marketing and distribution of creative content to its delivery to the final client. The launching of the two new film studios in St. Petersburg and Anapa, and increase in production capacity of the Moscow film studio will allow the company to increase production of its own content for traditional, as well as digital and mobile platforms and expand its potential of servicing other production companies,” – said Andrei Smirnov, the CEO of the RWS Company.