MOSCOW — Russian TV holding CTC Media’s second-quarter results showed revs up 54% year on year to $172.8 million from $112.1 million. Consolidated revenues for the Nasdaq-listed group, which includes entertainment channel CTC, femme-themed station Domashny and newly acquired DTV in Russia, as well as recently opened ventures in Kazakhstan and Uzbekistan, showed net income rose 59% to $48.8 million from $30.7 million in the second quarter.
The period saw the completion of the acquisition of DTV from Sweden’s Modern Times Group (MTG), which is itself the leading shareholder in CTC Media.
“In the past six years, CTC Media has grown from a private company, operating a single free-to-air channel, to a diversified vertically integrated public media holding with five channels in three countries and inhouse production capabilities,” said CTC Media president and CEO Alexander Rodnyansky while announcing the results. “In fact, in the second quarter, we grew faster than the overall Russian advertising market.”
The fall season’s premieres will include “new and proven formats,” with more than 25% of CTC’s programming lineup being produced inhouse through acquired production companies. One highlight should be an extra 40 episodes special for territory of local Sony format hit “My Fair Nanny.”
Rodnyansky steps down as CEO in early August, to be replaced by Anton Kudryashov.