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#1
22-04-2008, 12:24 AM
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MTG Sells DTV Group
Modern Times Group (MTG) has sold its national Russian free-TV network DTV Group to CTC Media, Inc., for $395 million in cash, the company announced April 17. The sale was completed after market close on April 16.
The deal follows a hectic week of activity for the company in Eastern Europe. Earlier in the week, it announced its subsidiary Viasat will launch direct-to-home services in Ukraine at the beginning of next week in a major move to attack one of Eastern Europe’s largest pay-TV markets.
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