St. Petersburg Media Forum Canceled Due to Funding Issues

But the event will return in 2016, funded from Russia's federal budget.

The St. Petersburg International Media Forum (SPIMF), a major international event for the TV and film industry, won’t be held this year due to a cut in funding, but organizers say it will return in 2016.

"Today we know for sure that the forum won't take place [this year]," Yekaterina Mtsituridze, head of the organizer, ROSKINO, was quoted as saying by the Russian daily Izvestia. "St Petersburg's culture committee has cut down on funding, and organizing of the event isn't feasible now."

She added, though, that major local cultural figures, including internationally renowned director Alexander Sokurov, spoke in favor for continuing with the event, which help to secure another source of funding.

"In 2016, SPIMF is to be funded from the federal budget," she said.

The first edition of SPIMF, which replaced a competition festival held in Russia's "Northern capital" for a few previous years, was held in October 2014, aiming to combine a cross-platform market for film, TV and new media and non-competition screenings of high-profile international films, according to the organizers.

Serena, the first Hollywood film by Oscar-winning Danish director Susanne Bier, had its world premiere at SPIMF as the event's closing film.