News Corp sold its branches in Romania and Russia

News Corp, company controlled by Rupert Murdoch, announced finalizing the sale for the 79% it owned in News Outdoor Romania and News Outdoor Rusia, shares brought by an investors group controlled by VTB Capital, Mediafax writes.

The other 2 shareholders of News Outdoor Russia and News Outdoor România are NOOH Investments Cooperatief U.A. (representing Peter Gerwe) and Marathon Outdoor Cooperatief U.A.(company managed by Alfa Capital Partners).

News Outdoor Russia is the biggest outdoor advertising company in the country, active in over 50 cities.

News Corporation announced since 2007 that aims to sell its shares in News Outdoor, that has a network that covers Eastern Europe and Asia.