Αρχική iptv-news Russia’s CTC Media to be sold

Russia’s CTC Media to be sold

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The Russian national commercial broadcaster CTC Media, once backed by Modern Times Group (MTG), is on the verge of another major ownership change.

Vedomosti reports that Ivan Tavrin’s UTV Holding, which controls 75% of CTC Media, is in the final stages of selling its interest in the broadcaster to a consortium of National Media Group (NMG) and VTB, with the deal likely to be closed by the end of the year.

With the remaining 25% of CTC Media already owned by Cyprus-registered Telcrest, whose owners are NMG, VTB, Severstal’s owner Alexei Mordashov and Sugutneftegaz, the broadcaster will effectively be controlled by NMG.

It will also see NMG become the leading player in Russia’s TV market, with its operations accounting for a combined audience share of 24%.

No financial details of the deal have been disclosed.



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