Purchase of Channel 31: Transaction Explained

Kazakhstani oligarch Bulat Utemuratov sold a major asset, Channel 31, to Adildiq Jane Orkendeu. The deal's amount has not been disclosed, and only questions arose. Orda.kz has looked into the matter.

What Is Known about "Adildiq Jane Orkendeu"?

The public foundation "Adildiq Jane Orkendeu" ("Fairness and Development") was created by civil activists from all regions of Kazakhstan. They aim to promote social justice, protect labor rights, and improve citizens' quality of life. The foundation focuses on solving pressing social problems, such as labor rights violations, housing and communal service issues, and improving public service quality.

The Foundation actively supports President Qasym-Jomart Toqayev's initiatives to build a "Fair Kazakhstan." The creation of feedback channels between the state and citizens and public control over implementing reforms are also focal points.

The organization is involved in various activities, from legal assistance to social surveys. They actively develop their nationwide network as well. 

In 2024, "Adildiq Jane Orkendeu" acquired the media holding "31 Channel" and the news portal "Informburo." 

Aidan Akanov, general director of the Verny Capital company group, commented on the deal. Akanov noted that the fund sees media holding as an opportunity to unite people based on values such as democratization, openness, and professionalism. Dana Rysmukhamedova, the fund's director, who also worked for Channel 31 for many years, confirmed plans for further development based on these principles.

The Adildiq Jane Orkendeu Foundation is actively expanding its activities, and acquiring the media holding opens up new opportunities to contribute to public discourse and spread its ideals about justice and equality.

But with what money?

Income and Expenses

There is little information about the fund in publicly available sources. It was founded by Gulzhan Markabayeva and Nurzhan Mukhamedzhanov in 2022. The fund's head is Dana Rysmukhamedova, a former Channel 31 employee. Conclusions about the fund's financial state can only be made indirectly based on tax liabilities.

In 2022, the fund paid 56 million tenge in corporate income taxes, but in 2023, this figure fell to 43 thousand. In 2024, there was growth again — 2.9 million tenge. The fund paid corporate income tax only in the year of its opening; then, it paid only individual tax. Adildiq Jane Orkendeu has no debts. Litigations are also non-existent. 

The fund is also the founder of TOO Advertising and Marketing and TOO Prim.

They are headed by Bek Kenzhebay, director of Channel 31 and TOO Infopolis. TOO Advertising and Marketing and TOO Prim have been operating in the media advertising market since 2015 and have paid considerable taxes.

These companies (and Channel 31, too) are located in the same building as the private fund of oligarch Bulat Utemuratov, who previously owned Channel 31. 

Dana Rysmukhamedova informed us that the editorial and personnel policy would not change. All employees will maintain their positions in the company. And as of September 25, Bulat Utemuratov has no relation to this media. For the first time in Kazakhstan, an NGO has become the owner of a media asset.

Dana Rysmukhamedova did not divulge the deal's details, citing commercial confidentiality. She claims that the organization bought the entire channel with donations.

The Foundation, as a public organization, carries out its activities thanks to sponsorship and voluntary donations from citizens and companies that share the values, goals and objectives of the Foundation. The editorial board of "Orda" and your readers can also support the Foundation's projects, noted Rysmukhamedova. 

The History

The history behind Channel 31 breaks down into a few key stages.

The TV channel was founded in 1993 by entrepreneur Armanzhan Baitasov, who was one of the first businessmen to develop media in independent Kazakhstan.

In 2000, Bulat Utemuratov, an influential businessman, acquired a stake in Channel 31. By 2008, the Russian company STS Media joined the owners and became a partner in the channel's development. This stage was critical for the channel's transition to a new level of professional management and audience growth. 

During this period, the channel grew and became one of the largest in Kazakhstan.

In 2023, STS Media left the project. Utemuratov's Verny Capital company group subsequently began seeking a buyer. In September 2024, the media holding was bought by the Adildiq Jane Orkendeu public foundation. 

Channel 31, once a private media resource, is now a large media holding that a public foundation manages.

Original Author: Ilya Astakhov