OREANDA-NEWS. On October 29, 2007 CTC Media, Inc. (NASDAQ: CTCM), a leading television broadcaster in Russia, reported financial results for the three- and nine-month periods ended September 30, 2007, reported the press-centre of CTC Media.

Alexander Rodnyansky, Chief Executive Officer, stated, “Our third quarter results continue to reflect the strength of the Russian television advertising market, our dedication to delivering premium audiences to advertisers and the quality of our CTC and Domashny brands. Considerable year-on-year growth in OIBDA and all other profitability metrics underscores efficiency of our business model and management’s focus on financial results.”
 
“We enjoyed a solid start to the fall programming season in an increasingly competitive landscape, with the new season of our Cadets weekday prime-time series, Daddy’s Girls sitcom and School #1 drama series among the leading premiers on our flagship CTC Network. We look forward to continue rolling out more premier shows and series as we progress into the fourth quarter.”

“As we look forward to 2008, we expect to continue to capitalize on the healthy growth of the Russian TV advertising market, among the highest in Europe, the strength of our CTC and Domashny brands and the resilience of our business model that allows us to deliver OIBDA profitability among the highest in the industry.”

“We also look forward to expanding our operations in Kazakhstan and Uzbekistan. In the third quarter, we laid the groundwork for this expansion, having secured the agreement to acquire a majority economic interest in Channel 31 in Kazakhstan and having set up a television company in Uzbekistan. We believe our expansion into these new markets, combined with continued growth in our core Russian market and our prudent approach to programming and cost management will result in continued value creation for our shareholders over the long term.”

Full report see here: http://www.ctcmedia.ru/press-center/releases/?id=126