The crisis in Russia’s TV ad market may be coming to an end, with growth of up 1.5% now forecast for 2016.

The prediction, the first of its kind published by the industry, was provided by Yuliana Slashcheva, CEO of CTC Media.

Quoted by Kommersant, she also said that the broadcaster has decided to extend its contract with the ad sales house Vi (formerly known as Video International), which expires at the end of this year, by a further three years.

Russia’s TV ad market is expected to contract by 20% this year, while CTC Media’s TV ad revenues, in ruble terms, fell by 26% in the first half.

CTC Media is currently in the process of being sold to YUTV, with the deal likely to be finalised by the end of the year.