- Moscow, Russia
- Large minority
- IPO on NASDAQ in 2006
The company currently owns and manages CTC, Domashniy and DTV channels, and owns two production companies - Kostafilm and Soho Media. It also manages Channel 31 in Kazakhstan, and television channels in Uzbekistan and Moldova.
StoryFirst Communications (later renamed "CTC Media") was founded by an American entrepreneur (Peter Gerwe) in 1989. From 1991 to 1997, the company attracted significant funding from global individual and institutional investors. In 1996, CTC Media launched the first Russian national television network, CTC, based on the American model. The company acquired and founded many regional television channels so as to cover the whole Russian landmass.
The value of the advertising market in Russia declined sharply after the 1998 crisis and caused a dramatic drop in revenue, which led several institutional investors to sell their shares. In early 2002, Baring Vostok Private Equity Fund purchased shares from these investors.