Russian indie broadcaster adds TV reach
EmptyCTC Media, Russia's leading independent TV broadcaster, has agreed to buy DTV Group from Modern Times Group, an investor in CTC, for about $395 million.
Moscow-based DTV operates a national free-to-air TV network with 28 stations in larger Russian cities.
"This is a fundamental breakthrough in our strategy to expand our broadcasting footprint and audience," CTC CEO Alexander Rodnyansky said. "DTV is a well-run, profitable and established network that will increase our exposure to the fast-growing Russian TV advertising market."
Based in Moscow, CTC owns and operates the CTC TV network, carried by more than 350 affiliate stations.