CTC Media to sell 75% interest in operating businesses

September 25 2015

MTG notes the announcement today by CTC Media, Inc., Russia’s leading independent media company of which MTG owns 37.9%, that it has entered into a definitive agreement to sell a 75% interest in its operating businesses. CTC Media’s full announcement can be found at http://www.ctcmedia.ru/press-center/releases. CTC Media’s common stock is traded on the NASDAQ Global Select Market under the symbol “CTCM”.

MTG accounts for its interest in CTC Media as a ‘discontinued operation’ and discloses this as a separate line item in its accounts.

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