CTC Media, Inc. (CTCM) - NASDAQ
  • Wed, May 11, 5:42 PM
    • CTC Media (NASDAQ:CTCM) is up 1.5% after hours, and climbing closer to its cash-out merger price as the company awaits finality.
    • Shares were quoted up to $2.04 this evening; the company had set its cash-out terms (tied to a sale to UTH Russia) at $2.05/share.
    • The company now says that it expects the deal to close by the end of this month. It had previously planned for mid-May, but it's still awaiting an IRS refund that forms part of the consideration.
    | Wed, May 11, 5:42 PM | 3 Comments
  • Fri, Feb. 12, 4:14 PM
    • CTC Media (CTCM +2.2%) said today it's gotten the last tranche of the price for its sale of 75% to the firm to UTH Russia.
    • The company had planned to comply with a Russian Mass Media Law that went into effect Jan. 1 with a sale of a 75% stake to UTH, the vehicle of billionaire Alisher Usmanov, for $200M. The deal was approved in December.
    • Of the $200M, $50M was held back and subject to adjustment depending on H2 2015 performance. CTC received $42.5M after a reduction, bringing the total consideration to $193.1M.
    • The company's awaiting a license from the U.S. Treasury to authorize the transaction, and expects the merger will finally close a month after it gets that license.
    • As for per-share amount going to stockholders, CTC says it's "unable to estimate" but it expects it will be "at the lower end of the upper half of the range approved by stockholders of $1.77 to $2.19 per share." CTC Media's trading at $1.89 on Nasdaq.
    | Fri, Feb. 12, 4:14 PM | 2 Comments
  • Dec. 17, 2015, 3:43 PM
    • CTC Media (NASDAQ:CTCM), up 2.8% today, says its special meeting has resulted in shareholders approving all proposed resolutions, primarily a high-profile sale of 75% of the company.
    • With a new Russian Mass Media Law restricting foreign ownership going into effect Jan. 1, the company planned to sell the 75% stake to billionaire Alisher Usmanov's UTH Russia for about $200M.
    • The sale passed with nearly 100% of the voting shares, just under 63% of outstanding shares. A subsequent merger plan designed to return cash to stockholders passed with a vote of 54.4% of outstanding shares.
    • CTC now expects the sale to UTH will close on Monday, with the merger (of CTC Media and CTCM Merger Sub) to close in Q1.
    • Previously: CTC Media sets details for under-the-wire vote on sale to Usmanov (Dec. 15 2015)
    • Previously: CTC Media sees sales decline as Russian TV market contracts (Nov. 09 2015)
    • Previously: CTC Media up 5.8% premarket on sale to Usmanov firm (Sep. 25 2015)
    | Dec. 17, 2015, 3:43 PM | 8 Comments
  • Sep. 25, 2015, 8:59 AM
    • CTC Media (NASDAQ:CTCM) is up 5.8% premarket after sealing a deal to sell 75% of the company to billionaire Alisher Usmanov's UTH Russia, for $200M.
    • The deal, in cash, is set to close in late December. The board will convene a special meeting to vote as soon as possible.
    • Sweden's Modern Times, which owns about 38% of the company's stock, has indicated it's ready to support the transaction, which comes ahead of Russia's foreign-ownership law restricting foreign stakes in mass media to no more than 20%.
    • The board says it intends to return value in cash to company shareholders after closing, and believes the amount available to stockholders would represent a low double-digit premium to yesterday's closing of $1.89.
    • Previously: CTC Media gives UTH Russia until Sept. 30 to seal $200M ownership bid (Jul. 24 2015)
    • Previously: CTC Media up 4.6% on Usmanov $200M bid for control (Jul. 06 2015)
    | Sep. 25, 2015, 8:59 AM | 3 Comments
  • Sep. 1, 2015, 12:46 PM
    | Sep. 1, 2015, 12:46 PM | 3 Comments
  • Aug. 7, 2015, 2:58 PM
    • Russia's CTC Media (NASDAQ:CTCM) is down 2% after a Q2 earnings report where it stayed profitable -- but net earnings declined 82% to $4.7M, after revenues were halved.
    • The company points to third-party reports that say the Russian TV ad market was down by 21% (in ruble terms) for the quarter. Forex issues played on results again; revenues dropped 50% in dollar terms, but just 25% in ruble terms.
    • Revenues did grow sequentially in dollar terms: total revenues up 17%, ad revenues up 16%.
    • With limited visibility as it billionaire Alisher Usmanov negotiates a controlling stake, the company won't declare a dividend for Q3 and isn't issuing full-year guidance.
    • Previously: CTC Media gives UTH Russia until Sept. 30 to seal $200M ownership bid (Jul. 24 2015)
    | Aug. 7, 2015, 2:58 PM
  • Jul. 22, 2015, 3:43 PM
    • Russian broadcaster CTC Media (NASDAQ:CTCM) is 3.6% lower this afternoon after a Deutsche Bank downgrade to Hold.
    • The analysts lowered their price target on the shares to $2.20, from $5.30. Shares are trading currently on Nasdaq at $1.99.
    • The stock has shed more than 80% of value over the past 12 months, in part due to Russia's new foreign-ownership law that will require foreign companies to cut their stakes in Russian media to no more than 20%.
    • CTC Media will announce Q2 results on Wednesday, July 29 and will hold a conference call that day at 5 p.m. UK time (noon ET).
    • Previously: CTC Media up 4.6% on Usmanov $200M bid for control (Jul. 06 2015)
    | Jul. 22, 2015, 3:43 PM
  • Jul. 6, 2015, 9:19 AM
    • Moving ahead of a law that will restrict foreign ownership of Russian media firms, Russian billionaire Alisher Usmanov has offered $200M for 75% of CTC Media (NASDAQ:CTCM). CTCM shares are up 4.6% premarket.
    • CTC Media is about 39% owned by Swedish group Modern Times, and the stock has declined 56% YTD and sank 81% over the past twelve months after Russian President Vladimir Putin signed a law requiring foreign companies to cut stakes in Russian media to no more than 20%.
    • Modern Times says its interest in CTC Media is now for sale and considers it a "discontinued operation." Usmanov's UTH Russia will have a period of exclusivity to negotiate its cash offer for the controlling stake in CTCM.
    | Jul. 6, 2015, 9:19 AM | 7 Comments
  • Jun. 26, 2015, 12:45 PM
    | Jun. 26, 2015, 12:45 PM
  • Apr. 30, 2015, 1:19 PM
    • Russian TV company CTC Media (NASDAQ:CTCM) has crumbled, down 15.7%, after a Q1 miss where revenues took a pounding (-57.5%) as the Russian TV ad market contracted some 21%.
    • CEO Yuliana Slashcheva cited "headwinds from a dramatically worsening macroeconomic environment, the sharp decline of the Russian advertising market and the loss of Ukrainian sublicensing revenues" as issues for the company.
    • The board refrained from declaring a dividend for Q2. The company says there's limited visibility into its 2015, as third-party estimates still have Russian TV ad revenues dropping 22% in Q2 and 20%-25% for the full year.
    • It's also deferred most high-quality premieres to the second half in order to reduce expenses.
    • Net cash flow from operations was -$3.3M, vs. the prior year's $32.4M.
    | Apr. 30, 2015, 1:19 PM | 3 Comments
  • Apr. 30, 2015, 12:45 PM
    | Apr. 30, 2015, 12:45 PM
  • Apr. 13, 2015, 5:41 PM
    • Russia's CTC Media (NASDAQ:CTCM) rose 4.8% in U.S. trading today after launching free movie streaming services on its sites, including Transformers, the Mission: Impossible films and other Western hits
    • The news means the firm is offering its viewers access to nearly 50 movies, with 40 more to come by year's end. CTC is pursuing access to 120 Paramount pictures by the end of 2016.
    • The company's various channel sites will have different offerings based on each channel's themes.
    | Apr. 13, 2015, 5:41 PM
  • Mar. 5, 2015, 12:37 PM
    • Russian firm CTC Media (NASDAQ:CTCM) is up 7.3% today in the wake of Q4 earnings that beat on a non-GAAP basis and revenues that exceeded expectations despite slipping nearly 30% in dollar terms (flat in ruble terms).
    • Adjusted OIBDA of $54.46M beat an expected $52.7M, but at 2.3B rubles was down 34% in ruble terms. For the year, adjusted OIBDA margin was around 30%. Advertising revenues were $176M.
    • Target audience share slipped across nearly all channels as smaller niche channels increased competition industrywide. Target audience share for the full year was down to 11.3% from 10.2%.
    • Cash and equivalents were $139.4M at year's end compared with $207.5M the prior year.
    • CTCM declined to provide outlook due to "very limited visibility into the TV advertising market outlook for 2015" and the challenge of dollar-reported results considering the ruble's precipitous decline..
    | Mar. 5, 2015, 12:37 PM
  • Oct. 3, 2014, 12:45 PM
    | Oct. 3, 2014, 12:45 PM | 1 Comment
  • Sep. 29, 2014, 12:49 PM
    | Sep. 29, 2014, 12:49 PM
  • Jun. 13, 2013, 10:54 AM
    TV broadcasting stocks soar off of M&A activity in the sector. Advancers: Gray Television (GTN) +10.3%, Lin TV (TVL) +10.1%, Sinclair Broadcasting (SBGI) +7.5%, Nexstar (NXST) +6.1%, CTC Media (CTCM) +2.3%.
    | Jun. 13, 2013, 10:54 AM | 1 Comment
Company Description
CTC Media, Inc. engages in the operations of television (TV) and radio broadcasting stations. It carries out its operations through the following segments: CTC, Domashny, Peretz, and Channel 31 Channels. The CTC Channel segment offers local and foreign programs, series, sitcoms, and sketch... More
Sector: Services
Industry: Broadcasting - TV
Country: Russia