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.
