The holding lost money because of crisis in the market of advertizing and decrease in ratings of the channel of STS
The revenue of the Russian holding CTC Media, Inc. in 2015 made $350,6 million that is 51% less in dollars and is 24% less in rubles, than in 2014, reported the American CTC Media Inc. This American company now owns 25% of actions of the Russian holding of the same name.
Such bifurcation of the company arose because of difficult structure of the transaction on its sale. From this year foreigners cannot own or control more than 20% of the company - the founder of mass media, and 75% of stocks CTC Media, Inc. belonged to the Swedish MTG and was quoted on NASDAQ. Therefore the holding was compelled to look for the new owner. At the end of December, 2015 shareholders of the company voted for selling 75% of the Russian business (written down on LLC "STS MEDIA") to YuTV holding Alisher Usmanov and Tavrin Yvan.
The transaction passes in two stages: at first CTC Media Inc. sells YuTV assets (this stage is complete), and then pays off with shareholders and leaves from the exchange (it has to happen in the second quarter of this year). As a result of some months the American company will work as the shareholder of the Russian holding: at each of these companies separate board of directors and general director.
The holding CTC Media, Inc. operates STS channels, "House", "Che" and CTC Love. Decrease in its income in 2015 in the report is explained by crisis the market of advertizing and reduction of audience of the channel of STS. Income of holding fell quicker, than the market as a whole. By data AKAR (AKAR), last year the market of TV commercial decreased by 14% to 136,7 billion rubles
Thus expenses of holding were cut only for 2%, as a result the operating profit of the company fell twice, and net profit – by one and a half times to $43,3 million
American CTC Media, Inc. insists that this technical write-off and has no relation to real business.