Published: 09.17 Europe/London, June 3, 2011
The shareholders’ agreement between Modern Times Group (MTG) with Russia’s Telcrest and CTC Media has come into force.
This follows a filing by Alfa CTC Media Holdings with the US Securities and Exchange Commission stating that the sale of its 25.2% stake in CTC Media to Telcrest has closed.
MTG waived its right to purchase the stake in CTC Media on May 20 and signed a new shareholders’ agreement, valid until June 6, 2015, with Telcrest and CTC Media.
In a separate development, CTC Media has expanded its presence in North America by launching the CTC International channel on two new platforms – Time Warner Cable in New York and Russian Media Group LLC (RMG).
CTC International made its debut in North America in December 2009 on the DISH satellite network.