Russia’s CTC Media signs agreement with Armenian company

PanARMENIAN.Net - CTC Media, Inc., Russia's independent media company, announced the signing of a number of agreements with distribution companies Masttel, Global Media Group and NUR DUYASI in Armenia, Georgia and Azerbaijan respectively, envisaging the expansion of the international version of the CTC television channel into these markets via cable networks, Market Watch reported.

Broadcasting of CTC-International has been launched in all the three countries. The contracts stipulate that CTC Media is to receive a fixed monthly payment from each of the companies. The agreements are valid for between one and three years.

Boris Podolsky, CTC Media's Acting Chief Executive Officer, Chief Financial Officer: "We have recently increased our activity on the CIS market and have expanded our presence in terrestrial, cable and satellite broadcasting. We believe this to be one of the important areas for our development. 2011 was a very successful year for our CIS business - our Channel 31 in Kazakhstan and "CTC/TV DIXI" channel in Moldova displayed a significant growth in audience shares and consolidated their respective market positions. The cable TV market in this region also shows great potential. In the future, we will examine other possibilities for expansion in the CIS."

Marat Devlet-Kildeyev, CTC Media's Head of International Broadcasting: "We are very pleased with the reached agreements and with the simultaneous expansion into three markets in the Caucasus. Our partners have a lot of experience and in-depth knowledge of their respective markets and existing needs, while local TV viewers are already familiar with CTC Media content. I have no doubt that demand for our international channel will continue to grow."