The Russian company Gazprom Media Holding and the Shanghai Media Group have signed a cooperation agreement. The enterprises will create joint content, exchange existing content and distribute together, Vedomosti reported, citing representatives of the holding. This was further confirmed by Minister of Communications Alexey Volin.

The Gazprom Media press office noted that the Russian company and Shanghai media group had signed a framework agreement, which means that it is still early to speak about the financial nuances. Dmitry Chernyshenko, head of Gazprom Media, noted that the companies will exchange content – television shows, feature and documentary films, and cartoons, with the goal of distributing them on the Russian and Chinese markets. While the Chinese content has still not yet been prepared, the Russian content includes 300 full-length feature films. A representative of the holding confirmed that Chinese audiences demonstrate particular interest in cooking shows as well as programs about tourism, cars, and sports. The content will be accompanied with Chinese subtitles.

The Shanghai Media Group is one of the largest Chinese media holdings, overseeing 30 on-air and off-air channels, eight print media outlets, radio stations, internet sites, the film production company Shanghai Film Group, and sport and cultural centers.

On January 21, Gazprom Media announced its partnership with the Chinese state company Zhenminvan, the owner of the largest local newspaper, Zhenmin Zhibao.

In the first quarter of 2016, prices for newspapers and magazines in Russia will increase 10-15%, and the cost of publishing will rise 20%. Alexander Oskin, the head of the Press Distributors Association, announced this on November 22, 2015.