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Press Releases
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21.12.2009
CTC Media Settles Disputes with Former CEO
Moscow, Russia – December 21, 2009 – CTC Media, Inc. (“CTC Media” or the “Company”) (NASDAQ: CTCM), Russia’s leading independent media company, today announced that it has entered into a voluntary agreement with its former Chief Executive Officer, President and non-executive Director, Alexander E. Rodnyansky, to settle the lawsuits filed by the Company in November 2009. All disputes between the parties have been resolved by the settlement.
21.12.2009
CTC Media to Launch International Broadcasting in North America
Moscow, Russia – December 21, 2009 – CTC Media, Inc. (“CTC Media” or the “Company”) (NASDAQ: CTCM), Russia’s leading independent media company, today announced the launch of international broadcasting under the CTC brand in North America through the DISH Network Corporation (NASDAQ: DISH), one of the country’s largest pay-TV providers with 13.6 million subscribers.
17.12.2009
CTC Media Announces Appointment of New Director
Moscow, Russia – December 17, 2009 – CTC Media, Inc. (NASDAQ: CTCM), Russia’s leading independent media company, today announced that Mathias Hermansson, Chief Financial Officer of Modern Times Group MTG AB (“MTG”), has been appointed to the CTC Media’s Board of Directors. MTG is the parent company of MTG Russia AB, which is CTC Media’s largest shareholder with a 39.4% equity stake. Mr. Hermansson replaces Kaj Gradevik, MTG’s Director of Business Development, as one of MTG Russia AB’s three representatives on the CTC Media’s Board. According to the stockholders’ agreement between the principal stockholders of the Company, three members of CTC Media’s Board of Directors are designated by MTG Russia and three by Alfa CTC Holdings Limited, an affiliate of Alfa Bank.
9.11.2009
CTC Media Files Lawsuits Against Board Member
Moscow, Russia – November 9, 2009 – CTC Media, Inc. (“CTC Media” or the “Company”) (NASDAQ: CTCM), Russia’s leading independent media company, today announced that it has become aware that its former President and Chief Executive Officer and a current non-executive member of its Board of Directors – Alexander E. Rodnyansky - has been involved in the business of one of the Company’s competitors in Russia and has acted against the best interests of CTC Media. These activities are in breach of Mr. Rodnyansky’s contractual obligations to the Company and his fiduciary duties as a Director of the Company. CTC Media has therefore today filed civil complaints in the Supreme Court of the State of New York for the County of New York and the Delaware Chancery Court against Mr. Rodnyansky, in order to protect the interests of the Company and its stockholders.
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