Friday, September 25, 2015

“CTC Media” has signed an agreement to sell 75% stake in YUTV Management – RIA Novosti

Holding CTC Media. Archival photo

© Holding” CTC Media “

MOSCOW, September 25 – RIA Novosti. ” CTC Media “announced the conclusion of the transaction for the sale of 75% of its shares in the “YUTV Management” for $ 200 million.

“CTC Media, Inc.” (“CTC Media” or the “Company”) (NASDAQ: CTCM), a leading independent media company in Russia, announces a definitive agreement to sell 75% stake in its operating assets digging Ltd. “YUTV Management”, part of the leading private Russian commercial broadcaster group UTH Russia (“UTH”), for $ 200 million (subject to adjustments) “, – the company said.

This deal the company signed” to comply with the new law of the Russian Federation ” On mass media “- in terms of restrictions on foreign ownership”.

Earlier, “CTC Media” report its findings from UTH July 6 officially a non-binding offer to purchase the assets.

“CTC Media “operates three channels in Russia – CTC,” Home “and” Pepper “and” Channel 31 “in Kazakhstan and a TV company in Moldova. In April 2014 the company launched a new cable channel” CTC Love “. Holding also owns its own company for the production of TV content – Story First Production, created in 2011 based on “Costafilm” and “Soho Media”.

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