Major Russian players team up

November 7, 2012 11.45 Europe/London By Chris Dziadul

Russia’s CTC Media and National Media Group have announced the creation of a joint online video resource on the base of the Videomore portal, which was launched by CTC Media in December 2010.

Under the terms of the deal, a significant amount of Ren TV and Channel 5 content, including both new releases and library titles, will be made available on the Videomore portal in addition to CTC Media content.

Separately, CTC Media has posted total revenues of $162 million (€126.6 million), or 12% more than a year earlier in ruble terms.

Adjusted OIBDA was $43.4 million with an adjusted OIBDA margin of 26.8% and its net cash position at the end of the period was $96.4 million.