MOSCOW, Jan. 13, 2015 (GLOBE NEWSWIRE) -- CTC Media (Nasdaq:CTCM), a leading Russian independent media company, today announced a change to its distribution model in Moldova. The Company's Board of Directors has decided to start a gradual transition to sub-license the content of its international channels. The Company also intends to begin selling content to other TV channels operating in Moldova.
Sergei Petrov, Deputy Director General of CTC Media for Broadcasting Management, said, "We are currently focused on increasing the efficiency of our business in the Republic of Moldova. Taking into account the current market situation in the country, the Company has decided to close its subsidiary, I.M. TELEDIXI S.R.L., which was broadcasting in Moldova as CTC MEGA, to focus on the cable and satellite distribution of CTC Media channels in Moldova. Additionally, given its popularity in Moldova, we are evaluating the possibility of selling CTC Media content to other TV channels in the country."
The CTC MEGA TV channel had been broadcasting in Moldova since 2005. The Company's exclusive content license between Set Televizionnykh Stantsii CJSC and I.M. TELEDIXI S.R.L. expired on December 31, 2014.
You can find information on CTC programming in Moldova on the СТС International website — http://www.ctci.tv/.
About CTC Media Inc.
CTC Media is the leading Russian independent media company. The group manages four television channels in Russia (CTC, Domashny, Peretz and CTC Love) as well as Channel 31 in Kazakhstan and a TV company in Moldova with combined audience over 150 million viewers. The international version of CTC Channel is available in North America, Europe, Central Asia, Armenia, Georgia, Azerbaijan, the Middle East and Kyrgyzstan. The international version of Peretz is available in Belarus in Kyrgyzstan as well. CTC Media also owns several digital entertainment media assets including videomore.ru, domashniy.ru, ctc.ru and peretz.ru. CTC Media is publicly traded on the NASDAQ Global Select Market under the symbol CTCM.
In October 2008, CTC Media Inc. bought 51% of shares in authorized capital of I.M. TELEDIXI S.R.L. TV channel CTC MEGA broadcast in 10 own broadcasting frequencies in major towns and cities of Republic of Moldova including Chisinau. The signal of CTC MEGA channel was also broadcast via cable operators (over 100 in Moldova, 10 of them in Chisinau) and via satellite.
Technical coverage of the channel is 98% of the country's territory. CTC MEGA was an entertainment channel for the whole family. Program net was formed from the most popular content of the channels CTC, Domashny and Perets, which are the part of CTC Media Group of Companies, but is not limited to it.
For further information, please visit www.ctcmedia.ru or contact:
|CTC Media, Inc.|
|Head of Investor Relations|
|+7 (495) 981-07-40|
|+7 (495) 785 63 47, ext. 4352,|
|+7 (985) 763 00 85|
Source:CTC Media, Inc.