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CTC Media, Inc. (CTCM)

  • Fri, Aug. 7, 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.
    • Press Release
    • Previously: CTC Media gives UTH Russia until Sept. 30 to seal $200M ownership bid (Jul. 24 2015)
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  • Wed, Jul. 22, 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)
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  • Mon, Jul. 6, 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.
  • Fri, Jun. 26, 12:45 PM
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  • Thu, Apr. 30, 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.
    • Press release
  • Thu, Apr. 30, 12:45 PM
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  • Mon, Apr. 13, 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.
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  • Thu, Mar. 5, 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..
    • Press release
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  • Oct. 3, 2014, 12:45 PM
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  • Sep. 29, 2014, 12:49 PM
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  • 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%.
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  • Apr. 18, 2012, 12:05 PM
    Russian broadcaster CTC Media (CTCM -1.4%) slips after JP Morgan cuts its rating on the shares to Underweight, citing increased competition and a declining audience share count at its flagship channel.
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  • Mar. 16, 2012, 11:04 AM
    CTC Media (CTCM -1.4%) slides after Deutsche cut the shares to Hold on valuation, citing limited upside potential in light of recent gains since January.
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  • Oct. 10, 2011, 9:53 AM
    Shares of CTC Media (CTCM) gain 12.4% after landing a Buy rating from Deutsche Bank. It's welcome relief for investors of the Russian media concern after the company revised its FY11 revenue forecast less than a month ago, sending shares on a tailspin.
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Company Description
CTC Media Inc is a media company, which operates three Russian television networks and one Kazakh channel. Its channels includes CTC (a flagship channel), Domashny, Peretz and channel 31 (a Kazakh channel).
Sector: Services
Country: Russia