OREANDA-NEWS. September 15, 2011. CTC Media, Inc. (“CTC Media” or “the Company”) (NASDAQ: CTCM), Russia’s leading independent media company, announces that the Company is revising its full year total revenues growth forecast for 2011 from approximately 20% growth year-on-year, to approximately 15% growth year-on-year, in ruble terms, when adjusting the 2010 revenues to exclude commissions payable to Video International for the direct sales of CTC Media’s advertising inventory in Russia in 2010, reported the press-centre of CTC Media.

The Company reiterates its OIBDA margin forecast of between 34% and 36% for the full year 2011, which is equivalent to between 38% and 40% under the terms of the advertising sales structure in place prior to 2011.

The updated revenue growth forecast primarily reflects the lower than anticipated audience share performance of the CTC channel, which has gradually become clear as the late summer season has unfolded, and the consequently lower advertising inventory levels anticipated for the full year.