MOSCOW, May 31, 2011 (GLOBE NEWSWIRE) -- CTC Media, Inc. ("CTC Media" or "the Company") (Nasdaq:CTCM), Russia's leading independent media company, announces the further expansion of the CTC-International channel ("CTC-International") in North America. In May 2011, it was launched on two new platforms – Time Warner Cable in New York City and Russian Media Group LLC ("RMG"). The Company has signed long-term agreements with both providers.
The CTC-International brand was first introduced in North America in December 2009 when it was launched on DISH satellite network.
The new agreements will enable CTC Media to significantly expand its presence — the CTC-International channel will be available to approximately 175,000 viewers in North America. The launch of broadcasting on the RMG and Time Warner Cable platforms is an important step in the development of CTC-International that will make viable advertising inventory sales, which are expected to commence in the fall 2011.
Anton Kudryashov, Chief Executive Officer of CTC Media, commented: "We continue to develop our business outside of Russia by launching CTC-International in the new markets and expanding our presence in the countries of established operations. Our current potential audience is 12 million viewers worldwide, and we expect our subscriber base to grow several times by the end of 2011."
Viacheslav Sinadski, Chief Strategy Officer of CTC Media, commented: "The international version of CTC has a high growth potential driven by great level of interest towards our content. So far the contribution of CTC-International to the consolidated results has been marginal but we see positive dynamics in its revenue growth and the development of the segment as a whole."
Mark S. Golub, President and CEO of the Russian Media Group LLC, commented: "We are thrilled to have the opportunity to add one of the most popular Russian channels to our RTN Platinum package. With its superb programming, which combines shows from three channels made in Russia, CTC is sure to become one of the favorite networks watched by our viewers across America."
About CTC Media, Inc.
CTC Media is a leading independent media company in Russia, with operations throughout Russia and elsewhere in the CIS. It operates three free-to-air television networks in Russia — CTC, Domashny and DTV - as well as Channel 31 in Kazakhstan and TV company in Moldova, with a combined potential audience of over 150 million people. The international pay-TV version of the CTC channel is available in North America, Israel and Germany. CTC Media also owns two TV content production companies, Costafilm and Soho Media The Company's common stock is traded on The NASDAQ Global Select Market under the symbol "CTCM." For more information on CTC Media, please visit www.ctcmedia.ru.
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For further information, please visit www.ctcmedia.ru.