Russian government to buy YouTube clone for $15m

European News: The media division of Russian natural gas giant Gazprom – which happens to be state-owned – is to buy RuTube, a Russia-based video-sharing site based that claims 5.5 million monthly visitors, for about $15 million, according to the Russian News & Information Agency (RIA Novosti). Gazprom-Media is a large player in Russia’s media market and owns TV channels NTV and TNT, which have syndicated some of their programming on RuTube. RuTube is basically a rip-off of YouTube and competes in the video-sharing space in Russia with firms including, Rambler Vision and the Russian version of, you guessed it, YouTube. A state-owned body doing M&A on Web 2 busineses. It’s a different market, that’s for sure.