CNN founder Ted Turner has emerged as the front-runner to buy a stake in leading Russian independent TV station NTV after rival Rupert Murdoch decided not to pursue talks, according to wire reports on Wednesday.

Turner is expected to pick up a stake of around a quarter of NTV, the network founded by Vladimir Gusinsky, the Russian media mogul currently embroiled in a wrangle with the Russian government. Murdoch and his News Corp are understood to have been approached about a investing some months ago.

Gusinsky, who controls 49.5% of NTV as part of his Media-Most empire, has previously said he wants to sell to a 19% stake in NTV to a foreign investor. The tycoon, who now lives in self-exile in Spain, ceased to be the majority shareholder in the station after turning over a large stake to the state-dominated natural gas monopoly, Gazprom, to cancel debts.

The station is known for its readiness to protect its editorial independence and delivered groundbreaking critical broadcasts of the Chechen war.