Russia’s CTC Media has acquired a controlling stake in CarambaTV,a producer of digital and transmedia content.
The deal is worth R148 million (€1.99 million) and will help CTC Media both diversify its revenues in the digital environment and reduce the costs of the purchase of internet traffic.
CaramabaTV was established in October 2014 and together with the Caramambatv.ru and 100500.tv web portals has about 2 million unique visitors each month.
CarambaTV content generates over 75 million views per month, including 20 million views of online content.
CarambaTV’s founders, who include Mikhail Orlov and Maxim Golopolosov, are expected to retain minority shares in the company.
CTC Media, which is backed by Modern Times Group (MTG), is one of the leading broadcasters in Russia.
