announced that its previously announced cash-out merger transaction deal is expected to close this Friday, May 20.

As previously announced, it is likely to value shares at $2.053 each, with the total amount distributed being around $239 million. As a result of the merger, the broadcaster will case to be a publicly traded company.

Under the terms of CTC Media’s sale, first announced late last year, the vendor received an initial $150.54 million from the buyer UTV Management before the end of last year. This was followed by $42.5 million this February, with the latter figure being reduced by $7.5 million.

CTC Media was formerly majority (38%) owned by Modern Times Group (MTG).