Russia's CTC Media to Return $255 Million to its Foreign Owners

Updated on
  • Sale of broadcasting operations to Usmanov finalized Friday
  • Modern Times shares rise most in 2 1/2 years in Stockholm

Russian broadcaster CTC Media Inc. plans to return about $255 million to shareholders including Sweden’s Modern Times Group AB and U.S. minority investors, after agreeing to sell the media company’s operations. MTG shares jumped the most in 2 1/2 years in Stockholm.

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