Russia’s CTC Media has posted relatively encouraging results against the backdrop of uncertainty over its future ownership.
Q3 revenues were up 3% year-on-year in ruble terms to $158.6 million, while OIBDA rose by 9% in ruble terms to $50.6 million.
However, net income was down by 24% in ruble terms to $31.6 million.
In her comments on the results, Yuliana Slashcheva, CEO of CTC Media, said that the broadcaster is “evaluating a potential transformation” of its channel Peretz.
She also spoke positively about the new structure of Video International, the leading TV ad seller in Russia, despite the company having its own sales house (Everest).
CTC Media cooperates with the ‘new VI’ and will look to do so even further in the future.
Commenting on the new legislation that will place a 20% foreign ownership limit on Russian media companies, she said that CTC Media’s future actions “may include corporate restructuring, franchising and licensing structures, capital reorganisation or divestments”.