Russia’s CTC Media is to acquire a 20% stake in Channel 31, the fourth most watched station in Kazakhstan, for $65 million (€43.9 million) in cash. As a result of the deal, it will obtain a 60% interest in the Channel 31 Group, consolidating the company’s statements with its own. CTC Media, which is 40$% owned by Sweden’s Modern Times Group (MTG) and already has a strong presence in Russia, expects the deal to go through in the first quarter.
CTC Media expands outside Russia
10.19 Europe/London, February 4, 2008 By
About Chris DziadulChris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com.
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