The Russian national commercial broadcaster CTC Media has acquired a stake in the film company Vodorod (‘Hydrogen’).
Although CTC Media has not indicated either the size of the stake or the amount paid, it says the deal will be fully closed in the first quarter of this year.
CTC Media adds that as part of the transaction, it will set the direction of films produced and coproduced by Vodorod.
The deal will also result in Vodorod producing TV content, including animation.
CTC Media, which was formerly majority owned by Modern Times Group (MTG), operates four TV channels (CTC, Domashny, Che and CTC Love) in Russia, one in Kazakhstan (Channel 31) and an international channel (Peretz).