CTC Media moves into Moldova

The Russian company CTC Media has expanded into Moldova, acquiring a 51% stake in the broadcasting group Teledixi and Muzic Ramil for $4.1 million (€2.9 million) in cash.

The Teledixi and Muzic Ramil group was established in 2001 and currently has broadcast licences for ten cities including the capital, Kishinev.

CTC Media, which operates the CTC and Domashny networks in Russia, lists Modern Times Group (MTG) and Alfa Group (26%) as its main strategic investors.