CTC Media set to expand

November 8, 2013 09.37 Europe/London By Chris Dziadul

CTC MediaRussia’s CTC Media is exploring the possibility of buying another terrestrial TV channel.

According to Kommersant, this was confirmed by Yuliana Slashcheva, the company’s CEO, in a conference call accompanying the company’s latest set of results.

Although she did not provide any further details, there is speculation that potential targets may include Pyatnitsa or 2×2, both of which are owned by Vladimir Potanin’s Profmedia.

CTC Media had revenues of $171,084,000 (€126, 970,000) in the third quarter, or 6% more than in the corresponding period in 2012.

Its OIBDA was $52,337,000 (-$39,137,000) and net income $46,655,000 (-$38,480,000).