June 16 (Bloomberg) -- Modern Times Group AB, the Swedish media company that co-owns Russia’s largest publicly traded television broadcaster, CTC Media Inc., is taking its Russian language pay-tv movie channel to Israel.
The Stockholm-based broadcaster, which operates in 38 countries, will start its TV1000 Russian Kino channel on the Yes satellite platform that reaches about 600,000 homes, or about 40 percent of Israel’s pay-TV households, MTG said in an e-mail. There are about a million Russian speakers in Israel, it said.
“Our wholesale channel business has constantly expanded into new markets since it was launched more than 10 years ago,” MTG Chief Executive Officer Jorgen Madsen Lindemann said in the statement. “This is the second new market that we have entered this year after Turkey in January.”
MTG’s shares closed down 0.8 percent to 291 kronor on June 13, taking the decline to 13 percent this year and valuing the company at 19.8 billion kronor ($2.98 billion).
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