CTC Media agrees US$200 million sale of 75% stake to UTH

Russia’s CTC Media has entered a definitive agreement to sell a 75% stake in its operating businesses to UTH Russia-affiliated UTV Management for US$200 million (€178 million) in cash in order to comply with the new foreign ownership restrictions imposed by the Russian government. CTC Media had previously confirmed it had received a formal, non-binding […]

Russia’s CTC Media reports 74% plunge in net income

CTC Media’s net income plummeted 74% year-on-year in the second quarter with the firm blaming a “challenging” first half on regulatory, macroeconomic and commercial developments. Announcing its Q2 results, the Russian broadcast group reported net income of RUB241.5 million (€3.46 million), down from RUB940.9 million a year earlier. In dollar terms the profit drop was […]

Russian legislators call for 20% ceiling on foreign media ownership

Russian legislators have called for a ceiling of 20% to be imposed on foreign ownership of media outlets. Sergei Zheleznyak, the deputy secretary of the ruling United Russia party, said that the proposed law – a draft of which was published on Wednesday – is designed to guarantee Russia’s “information sovereignty” by decreasing the influence […]

UTH rebrands and refocuses Muz as You

Russian channel provider UTH Russia is to rebrand its music channel Muz in the autumn and refocus it as a general entertainment service. The channel will be renamed You and will be aimed at an 11-34 audience with a core target of 16-30 year-olds. You will take over the existing distribution of Muz, while UTH […]

UTH launches ClipYou music video service

Russian broadcaster UTH has launched a new music video portal linked to its Muz TV music channel. ClipYou will offer ad-supported on-demand video streaming of music clips from a catalogue of over 33,000 clips from Russian and international music companies including Universal Music, Warner Music, Sony Music, and EMI. ClipYou will target 11-35 year-olds, with […]

Disney to launch free-to-air in Russia

Disney is to begin broadcasting a free-to-air channel in Russia next year in partnership with local media group UTH, backed by entrepreneur Alisher Usmanov. Disney has agreed to buy a 49% stake in Seven, owned by UTH, which will be rebranded as Disney when the deal, reportedly worth US$300 million (€214 million), is completed. Entertainment […]