CTC Media Reports Revenue Increase

MOSCOW, April 29:
Consolidated revenues at Russia’s CTC Media for Q1 2008 rose 31.3 percent to
$136.7 million, delivering a profit of $41.7 million, reflecting a 48.3-percent
rise on the year-ago period.

Announcing the results,
Alexander Rodnyansky, the CEO of CTC, noted: "We are extremely satisfied
with the first quarter financial results, which once again proves that CTC
Media continues to strengthen its position as the leading independent media
company in Russia. The increase in our total operating revenue in the first
quarter by 31 percent and especially the increase in our advertising revenue in
Russia by 38 percent in the same period represent the best example of CTC
effectively capitalizing on the growth of the Russian advertising market. In
the increasingly fragmented free-to-air environment, CTC Media continues to
deliver quality programming to its target audience, while the high affinity of
our channels in Russia allows us to deliver a premium, loyal audience to
advertisers.”

Rodnyansky cited other
highlights during the period, including the commencement of commercial
broadcasting at CTC-Uzbekistan and the relaunch of Channel 31 in Kazakhstan.
"Another important milestone was entering into the definitive agreement to
acquire the DTV group,” he said. “As a result, CTC Media currently operates
three free-to-air national TV channels in Russia, allowing us to provide a
unique offer to advertisers and audiences. We are focused on improving DTV's
programming lineup for the fall television season which we believe will make
the channel even more attractive to its premium male audience.”

—By Mansha Daswani