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CTC Media To Acquire DTV Channel in Russia For $400 Million

Files under: Inside View, News
Posted by: Quintura @ 03:03 [27. 02. 08]

According to Vedomosti business daily, Russia’s 4th most watched TV broadcaster CTC Media may acquire DTV, a Russian entertainment TV channel for up to $400 million from Modern Times Group (MTG). The Russian Association of Communication Agencies (AKAR) recently released data that TV advertising market in Russia was some $4.4 billion in 2007, up 31% from 2006.

DTVDTV reported revenues of $40 million and operating profit of $4 million in 2007. DTV had 2.5 percent share of Russian viewers aged 6-54 in the fourth quarter of 2007.

MTG first acquired 75 percent of DTV in May 2001. MTG is the largest shareholder of CTC Media and owns 39.5 percent of its shares. CTC Media completed initial public offering on NASDAQ in June 2006.

CTC Media recently agreed to acquire 60 percent of the economic interest in Channel 31 Group, the 4th largest TV broadcaster in Kazakhstan for $65 million.

In 2006-07, several entertainment TV channels in Russia have been bought out in multi-hundred million dollar transactions. Prof-Media acquired acquired TV3 for $550 million and MTV Russia for $360 million. Metalloinvest purchased 75 percent of MUZ-TV valuing it at some $400 million.

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One Response to «CTC Media To Acquire DTV Channel in Russia For $400 Million»

  1. 1 Alt Search Engines » Blog Archive » Yandex To Enter Silicon Valley Quintura @ 03:03 [27. 02. 08]

    [...] In December 2007, Yandex named Nilesh Lakhani new CFO. Prior to Yandex, Nilesh served as CFO of CTC Media, a leading Russian independent TV broadcaster that trades on the [...]

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