OREANDA-NEWS. On October 03, 2008 CTC Media, Inc. (NASDAQ: CTCM), Russia's leading independent media company, announced that it has completed the acquisition of a 51% interest in the broadcasting group: “Teledixi” SRL and “Muzic Ramil” SRL in Moldova for US4.1 million in cash. The channel is expected to re-launch in CTC format during the fourth quarter of 2008, reported the press-centre of CTC Media.

Commenting on the acquisition, Anton Kudryashov, Chief Executive Officer of CTC Media, said, “We are pleased with the opportunity to broaden the reach of the CTC Media brands and strengthen our position among the countries of the former Soviet Union. Moldova is a country with a growing economy and the potential for future growth in the television advertising market. We are confident that our expansion into Moldova will be successful since CTC Media possesses a sound track record of building and operating TV networks. We believe that the combination of our programming expertise and the knowledge and experience of our Moldavian partners will result in a unique entertainment channel for Moldova television viewers.”

Dan Lozovan, General Director of “Teledixi” SRL, said, “Our partnership with CTC Media allows us to meet our viewers’ expectations with regard to high quality content.  I am optimistic that the combination of our successful local production and CTC’s proven programming will enhance the channel’s appeal to both viewers and advertisers.”