Russian financial conglomerate Finstar Financial Group has bought a slice of shares in Fashion TV. The number of shares and size of the financial investment has not been revealed.

“We are happy to get a new partner, with whom we have the same views on the development of the market in this segment of business,” said Michel Adam, the President & Founder of FashionTV and informs about future plans as “The world-famous FashionTV brand will continue its successful development and plans to strengthen its position also within the global entertainment market.”

Finstar is headed by Russian billionaire Oleg Boyko who is ranked the 71st richest person in Russia by Forbes, and has increasingly been interested in Hollywood and media-related projects.

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