Russian citizen Alexander Kaminin, the frontman of the project for a new Bulgarian-Russian TV – HMTV – has no business history in Russia and no information on him could be found in the Russian segment of the Internet, this is what an inquiry of Bivol, carried out jointly with its Russian partners from OCCRP, showed. Kaminin, born in 1957, has no property in Bulgaria, but has a residence permit issued in 2014 in the Black Sea city of Varna.

Kaminin has only two shares in the company-owner of the television Horizon Media JSC. Dontcho Nikolov Kirchev and Nadezhda Zhelyazkova Lyubenova have 49 shares each.

The origin of the money for the new TV channel is unclear because the business history of, both, Kirchev and Lyubenova is not impressive as well. Doncho Kirchev is partner in the company “K & K Consult” which declares annual revenues of approximately 30,000 levs, while Nadezhda Lyubenova appears in business registries for the first time as shareholder and manager in Horizon Media. She did not have any business in her name prior to that. A check in the Property Registry showed that Lyubenova is not a big heir or owner of property. The same goes for Doncho Kirchev who has several meadows in the towns of Devnya and Novi Pazar in Eastern Bulgaria.

Horizon Media was established in July 2015 and in 2015 had paid benefits for a total of two employees.

However, the founders of the company include Stefan Panayotov who has experience in the television business as co-owner in “Varna TV Group” and participates in the management of several companies related to telecommunications and real estate business. Panayotov is presently manager of “Varna Telecom” LTD, in which M-SAT of the notorious Varna-based group TIM is a shareholder. Shortly after the creation of Horizon Media, Stefan Panayotov sold his shares in it, and by October 2015 had left the management of the company, shows a check in the Business Registry.

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