Fifth Channel takes the Lenfilm package

Russian channel spends $20 mil for titles

MOSCOW -- Russia's Fifth Channel, part of the National Media Group, has acquired rights to a package of more than 700 Soviet movies made from the 1950s to 1980s by the Lenfilm studio.

The deal, estimated to be worth about $20 million, covers a five-year period, during which Ren-TV, the group's other channel, also will have broadcast rights to the package.

The Fifth Channel broadcasts in 90 Russian cities. The broadcaster's ad revenue is projected to reach up to $30 million this year.