Alfa Group, which owns a 25.3% stake in CTC Media, has offered to sell its stake to MTG of Sweden for $1 billion. The offer is valid until May 25, 2011. MTG owns 38.2% of CTC Media. The other potential purchaser of the stake is National Media Group, reported Vedomosti.
CTC Media is a leading entertainment television network in Russia. CTC Media broadcasts free-to-air television channels CTC, Domashny and DTV in Russia, Channel 31 in Kazakhstan and a TV channel in Moldova. In 2010, CTC Media reported revenue of $601 million and net income of $145 million. CTC Media is listed on NASDAQ since June 2006.