CTC Expands into Moldova

MOSCOW, October 3: The
Russian independent broadcasting group CTC Media has expanded into Moldova with
the acquisition of a 51-percent stake in Teledixi and Muzic Ramil for $4.1
million in cash.

Teledixi is expected to
relaunch with CTC content, in addition to its own locally produced fare, in the
fourth quarter of this year. Announcing the acquisition, Anton Kudryashov, the
CEO of CTC Media, said, "We are pleased with the opportunity to broaden
the reach of the CTC Media brands and strengthen our position among the
countries of the former Soviet Union. Moldova is a country with a growing
economy and the potential for future growth in the television advertising
market. We are confident that our expansion into Moldova will be successful
since CTC Media possesses a sound track record of building and operating TV
networks. We believe that the combination of our programming expertise and the
knowledge and experience of our Moldavian partners will result in a unique
entertainment channel for Moldova television viewers."

Dan Lozovan, the general
director of Teledixi, added: “Our partnership with CTC Media allows us to meet
our viewers' expectations with regard to high-quality content. I am optimistic
that the combination of our successful local production and CTC's proven
programming will enhance the channel's appeal to both viewers and
advertisers."

—By Mansha Daswani