Russia’s CTC Media has expanded into neighbouring Kazakhstan and Uzbekistan by acquiring a majority (60%) interest in the Channel 31 group for around $65 million (€47.7 million) in cash. The group is a leading broadcaster in Kazakhstan and a registered broadcasting company in Uzbekistan. CTC Media, which is backed by Sweden’s Modern Times Group (MTG), has also teamed up with an Uzbek media group named Terra to register a TV service that will make its debut in 2008.
