MOSCOW, Nov. 7, 2012 (GLOBE NEWSWIRE) -- CTC Media, Inc. ("CTC Media" or the "Company") (Nasdaq:CTCM), Russia's leading independent media company, and National Media Group (NMG) have announced an agreement to create a joint online video resource on the base of the Videomore portal, which was launched by CTC Media in December 2010.
According to the reached agreement, a significant amount of REN TV and Channel 5 content, including both new releases and library titles, will be made freely available on the Videomore portal, in addition to existing CTC Media content.
Viacheslav Sinadski, CTC Media's Chief Strategy Officer: "CTC Media has traditionally been ahead of the game when it comes to trends and industry changes, striving to adapt to the evolving market as quickly as possible. We were one of the first in the sector to focus on new media as a strategic segment by creating the Videomore portal. The resource has operated in its original form for almost two years and has met all our expectations in the meantime. These two years have given us invaluable experience and a better understanding of the modern viewer's demands. We have come to the conclusion that our future success depends on three factors: the availability of high-quality new content, the ability to advertise on television, as well as the overall scale. The first two criteria have always been at our disposal, but we can significantly expand the scale of our business only by attracting new strategic partners including media holdings, TV channels and copyright holders."
Larisa Prigorodova, NMG's Chief Deputy CEO: "Our participation in this project can be attributed to the global rapid growth trend in the new media sector. We strive to adapt as quickly as possible to meet the changing needs of our viewers. As a part of the NMG assets development strategy, we understand the need to consolidate video resources on the market. We believe that participation in this project will help us build on our current audience and attract new viewers."
About CTC Media, Inc.
CTC Media is a leading independent media company in Russia, with operations throughout Russia and in a number of other CIS markets. It operates three free-to-air television networks in Russia – CTC, Domashny and Peretz – as well as Channel 31 in Kazakhstan and a 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, Europe, North Africa, the Middle East, Central and South East Asia. CTC Media also has its own TV content production capabilities through its Story First Production subsidiary. The Company's common stock is traded on the NASDAQ Global Select Market under the symbol "CTCM".
For more information about CTC Media, please visit www.ctcmedia.ru.
The CTC Media, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9587
About National Media Group
National Media Group was founded in February 2008 through a merger of the media assets of AB Rossiya, Alexey Mordashov, Surgutneftegaz and the Sogaz insurance group. In June 2011, large European media holding RTL Group acquired a stake in NMG. National Media Group is currently one of the largest private media holdings in Russia. Its assets include: Petersburg Channel 5 TV and Radio Company (72.4%), Channel One (25%), REN TV media holding (68%), the Izvestiya newspaper (50.19%) and the Russian News Service radio station (100%).
For more information about NMG, please visit www.nm-g.ru.
CONTACT: For further information, please visit www.ctcmedia.ru or contact: CTC Media, Inc. Ekaterina Ostrova Director, Corporate Communications and Investor Relations + 7 495 783 3650 email@example.com Viktoriya Bakaeva Head of Media Relations, Press Secretary +7 495 785 6347, ext. 1210 firstname.lastname@example.org National Media Group Oksana Razumova Director for External and Internal Communications +7 495 998 11 12 +7 985 774 50 37 Razumova@nm-g.ru
Source:CTC Media, Inc.