Russian CTC Media dispute set to end

By Chris Dziadul
December 10, 2009 09.30 UK

A dispute between the Russian commercial broadcaster CTC Media and its former president and CEO Alexander Rodnyansky seems finally to have been resolved.

Kommersant reports that the two parties have signed a MoU under which they have until December 18 to conclude a settlement agreement. Under it, CTC Media will withdraw civil complaints against Rodnyansky filed in US courts last month in return for him abandoning around 20-33% of his 5.41% share option in the broadcaster.

Rodnynasky had been accused by CTC Media of working for the rival National Media Group (NMG), whose interests include Ren TV and St Petersburg Fifth Channel.

CTC Media is backed by MTG and operates, amongst others, the national commercial station CTC, regional DTV and thematic channel Domashny.