CTC Media announces Board and management changes

December 15 2011

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment broadcasting group, has noted that associated company CTC Media, Inc., in which MTG owns a 38.1% shareholding, has announced changes to the company’s Board of Directors and Executive Management team.

CTC Media’s full press release can be found on the following link: http://www.ctcmedia.ru/press-center/releases/?id=1020.

CTC Media is a leading independent media company in Russia, with operations throughout Russia and elsewhere in the CIS. It operates three free-to-air television networks in Russia – CTC, Domashny and DTV (operating under the Peretz brand since October 2011) – as well as Channel 31 in Kazakhstan and a TV company in Moldova, with a combined potential audience of over 150 million people. The international pay-TV version of the CTC channel is available in the Baltic states, Germany, Israel and North America. CTC Media also has its own TV content production capabilities through its subsidiary Story First Production. The Company’s common stock is traded on the Nasdaq Global Select Market under the symbol “CTCM”. For more information on CTC Media, please visit www.ctcmedia.ru.

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