The Russian broadcaster CTC Media is now likely to be sold to YUTV without any discount.
Kommersant reports that this is due to the company’s improved financial performance in the second half of 2015, which should raise its value to the original offer price of $200.54 million rather than the previously reduced one of $185 million.
Indeed, the first part of the transaction, carried out in December, saw CTC Media receive $150 million for 75% of the company. Now, it is likely that a further $50 million will be distributed among it shareholders.
CTC Media is one of the leading commercial broadcasters in Russia and previously listed Modern Times Group (MTG) as its largest shareholder.
