Rostelecom Not In Talks To Purchase CTC Media
May 27 15
Open Joint Stock Company Long-Distance and International Telecommunications Rostelecom (MICEX:RTKM) is not negotiating to buy CTC Media, Inc (NasdaqGS:CTCM), Sergei Kalugin, Rostelecom President, said. "We are not conducting talks," Kalugin said.
CTC Eyes Buyers
May 7 15
CTC Media, Inc (NasdaqGS:CTCM) is searching independently for potential investors of its shares. Negotiations will be performed by an advisory committee under the Board of Directors of the holding company. The UBS investment bank was earlier looking for investors. The bank has held a few dozen presentations, but has received no specific proposal.
CTC Media, Inc Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for 2015
Apr 30 15
CTC Media Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. Total operating revenues were $79,138,000 against $186,247,000 a year ago. Operating income was $4,840,000 against $48,139,000 a year ago. Income before income tax was $7,308,000 against $45,914,000 a year ago. Net income attributable to CTC Media Inc. stockholders was $8,417,000 against $31,216,000 a year ago. Net income per share attributable to CTC Media Inc. stockholders diluted was $0.05 against $0.20 a year ago. Net cash used in operating activities was $3,326,000 against net cash generated in operating activities of $32,403,000 a year ago. Acquisitions of property and equipment and intangible assets were $587,000 against $974,000 a year ago. OIBDA was $8,374,000 against $55,971,000 a year ago.
The company expects revenue in ruble terms in 2015 to decline with the overall Russian TV advertizing market, which outside experts predict will drop 20%-25%. CTC expects the operating income before depreciation and amortization (OIBDA) margin for the full year to remain roughly at the first quarter level, 10.6%.
CTC Media Not to Pay Dividend for the Second Quarter of 2015
Apr 30 15
CTC Media announced that the Directors have decided against paying dividends in the second quarter of 2015. The company in first quarter paid $0.175 per share or around $27.3 million in total, but cautioned that further payments would depend on the market situation, the company's needs for cash and the results of efforts to adapt to the law restricting foreign ownership of media organizations in Russia.
Rostelecom Reportedly Considers Buying CTC Media
Apr 28 15
Modern Times Group Mtg AB (OM:MTG B); Open Joint Stock Company Long-Distance and International Telecommunications Rostelecom (MICEX:RTKM) is considering buying CTC Media, Inc (NasdaqGS:CTCM), business daily Vedomosti reported. CTC had said it is considering a potential sale to comply with a new Russian law on foreign ownership. Rostelecom and CTC Media declined to comment. Talks are being held but they are not at an advanced stage, Vedomosti quoted the sources as saying. It did not provide details.