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Business news, 19.12.2003 11:46

“PMI Ñorporation” gives battle to piracy

“Dinamit-FM” logo PMI Corporation, the owner of radio stations like “Dinamit-FM”, “Love Radio” and “Russkoye Radio” intends to create a retail outlet chain of its own to sell licensed audio and video production. The company will have to invest $10 million to enter the market with an annual volume between $350 million and $700 million.

PMI Corporation President Evgeny Finkelstein said that his company would be planning to open 10 retail outlets and one wholesale warehouse in 2004.

The new musical chain will sell only licensed production. The company is about to conclude exclusive contracts only with well-known recording labels to market their production in the North-Western District.

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