History
For the history of this channel before 1991, see Television in the Soviet UnionWhen the Soviet Union was abolished, the Russian Federation took over most of its structures and institutions. One of the first acts of Boris Yeltsin’s new government was his signing of a presidential decree on 27 December 1991, providing for Russian jurisdiction over the central television system. The ‘All-Union State TV and Radio Company’ (Gosteleradio) was transformed into the 'Russian State TV and Radio Company Ostankino'.
A presidential decree of 30 November 1994 transformed Ostankino into a closed joint-stock company, Russian Public TV (Obshchestvennoe Rossiyskoye Televidenie or ORT). The shares were distributed between state agencies (51%) and private shareholders, including numerous banks (49%). The partial privatization was inspired by the intolerable financial situation of Ostankino, owing to huge transmission costs and a bloated payroll (total staff of about 10,000 in early 1995).
Following the 1998 financial collapse, the channel obtained a government loan of $100 million from state-controlled bank Vneshekonombank.
From 1 April 1995 until late 2002, the channel was called ORT (ОРТ—Общественное Российское Телевидение, Public Russian Television). It maintained the traditional programs and shows of the First Channel of the Soviet Television (RTO), such as Vremya, KVN, Chto? Gde? Kogda?, V mire zhivotnykh and Klub puteshestvennikov; the last two are no longer on the air of this channel.
Read more about this topic: Channel One (Russian TV Channel)
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