But his attempt to save a Russian television network is now in doubt. Gazprom-Media says it's pulling out of the deal because NTV's other major shareholder, Media Most , failed to uphold its part of a proposed arrangement that would have helped settle a protracted dispute over Media Most's debts. Media Most's founder, Vladimir Gusinsk y, who fled Russia last summer after being jailed on embezzlement charges, had angered the Kremlin with critical coverage of the 16-month war in Chechnya, President Vladimir Putin 's slow response to the Kursk nuclear submarine disaster, and allegations of official corruption. Gusinsky says he's a victim of the government's attempt to muzzle Russia's nascent independent media, and sought a foreign buyer to bolster his network. Russian prosecutors raided NTV headquarters yesterday.
Russian officials deny it was a move designed to scare away potential buyers.
Gazprom-Media is a division of OAO Gazprom. Some consider it a part of his growing philanthropic zeal rather than another savvy business move. Time Warner owns Turner Broadcasting Systems. Analysts added that Turner's financial decisions have no bearing on Time Warner's performance. If he's raising buffalo out West, it doesn't affect the valuation of Time Warner.