Renaissance Capital logo

Russian TV network operator CTC Media files for IPO

March 6, 2006

CTC Media, an operator of two Russian television networks that offer entertainment programming, registered for an initial public offering Monday evening and plans to offer 7.9 million shares. For the FY 2005, the Moscow-based company generated $237 million in operating revenues with a net margin of 24.1%. Morgan Stanley and Deutsche Bank will underwrite the deal. Complete terms and timing have yet to be determined.