CTC-International Enters the Armenian, Georgian and Azerbaijani Markets
MOSCOW, May 10, 2012 (GLOBE NEWSWIRE) -- CTC Media, Inc. (CTCM) ("CTC Media") (Nasdaq:CTCM), Russia's leading independent media company, today announced the signing of a number of agreements with distribution companies Masttel, Global Media Group and NUR DUYASI in Armenia, Georgia and Azerbaijan respectively, envisaging the expansion of the international version of the CTC television channel into these markets via cable networks.
Broadcasting of CTC-International has been launched in all the three countries. The contracts stipulate that CTC Media is to receive a fixed monthly payment from each of the companies. The agreements are valid for between one and three years.
Boris Podolsky, CTC Media's Acting Chief Executive Officer, Chief Financial Officer: "We have recently increased our activity on the CIS market and have expanded our presence in terrestrial, cable and satellite broadcasting. We believe this to be one of the important areas for our development. 2011 was a very successful year for our CIS business our Channel 31 in Kazakhstan and "CTC/TV DIXI" channel in Moldova displayed a significant growth in audience shares and consolidated their respective market positions. The cable TV market in this region also shows great potential. In the future, we will examine other possibilities for expansion in the CIS."
Marat Devlet-Kildeyev, CTC Media's Head of International Broadcasting: "We are very pleased with the reached agreements and with the simultaneous expansion into three markets in the Caucasus. Our partners have a lot of experience and in-depth knowledge of their respective markets and existing needs, while local TV viewers are already familiar with CTC Media content. I have no doubt that demand for our international channel will continue to grow."
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 and Central 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 .
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Caution Concerning Forward Looking Statements
Certain statements in this press release that are not based on historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among others, statement regarding possible growth of demand for our international channel and etc. These statements reflect the Company's current expectations concerning future results and events. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CTC Media to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The potential risks and uncertainties that could cause actual future results to differ from those expressed by forward-looking statements include, among others, the implementation of legislation; the Company's ability to deliver audience share, particularly in primetime, to its advertisers; free-to-air television remaining a significant advertising forum; and restrictions on foreign involvement in television business abroad. These and other risks are described in the "Risk Factors" sections of CTC Media's quarterly report on Form 10-Q, filed with the SEC on May 3, 2012.
Other unknown or unpredictable factors could have material adverse effects on CTC Media's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed herein may not occur. You are cautioned not to place undue reliance on these forward-looking statements. CTC Media does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.
CONTACT: CTC Media, Inc. Investor Relations Ekaterina Ostrova Tel: +7 495 783 3650 or Irina Klimova Tel: +7 495 981 0740 firstname.lastname@example.org Media Relations Victoria Bakaeva Tel: +7 495 785 6347, ext 1210 or Anna Zvereva Tel: +7 495 785 6347, ext 1212 email@example.com
Source: CTC Media, Inc. 2012 GlobeNewswire, Inc.