According to local reports, Baring Vostok has sold a 6.1% stake in Russia’s CTC Media to Access Industries for an undisclosed fee. Access Industries is owned by the US billionaire Leonard Blavatnik and has a growing list of media assets including a stake in AMedia, Russia’s leading independent production company. CTC Media lists Sweden’s Modern Times Group (MTG) as its main (40%) shareholder and is one of the leading broadcasters in Russia. Last week it reported a 56.2% rise in revenues in 2006. (CD)
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