Sweden’s Modern Times Group (MTG) has announced the completion of the sale of its Russian FTA station DTV to CTC Media for $395 million (€248.9 million).
The deal, which was first announced in March this year, represents a consolidation of MTG’s assets in Russia, which include a 39.5% stake in CTC Media.
MTG acquired a 75% stake in DTV in April 2001 and increased its stake to 100% in 2004.