UTV Management

Stockholders back CTC Media sale

CTC Media’s stockholders approved the sale of 75% of the company to Russia’s UTV Management at a special meeting held yesterday. The sale to UTV was approved by people who own 62.7% of CTC’s outstanding shares, while 54.4% approved a merger between CTC Media and a wholly-owned subsidiary called CTCM Merger Sub. The sale required […]

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 […]