MOSCOW, Jan. 23, 2013 (GLOBE NEWSWIRE) -- CTC Media, Inc. ("CTC Media" or the "Company") (Nasdaq:CTCM), Russia's leading independent media company, today announced that Timur Weinstein has joined CTC Media's Board of Directors, replacing Dimitry Afanasiev, who has resigned to pursue other interests. Mr. Weinstein is one of the three members of the CTC Media Board designated by Telcrest Investments Limited, an affiliate of Bank Rossiya and one of CTC Media's principal stockholders, pursuant to a stockholders' agreement among the Company, MTG Russia and Telcrest.
Dimitry Afanasiev commented: "I have been honored to serve on the Board of Directors of CTC Media. I continue to believe strongly in the potential of CTC Media, and I wish the company well."
Hans-Holger Albrecht, Co-Chairman of CTC Media, commented: "On behalf of the Board of Directors, we would like to thank Dimitry for his contribution to the Company and wish him the very best for the future. We are delighted to welcome Timur Weinstein to the Board. We are convinced that his background and experience will contribute to the continued growth and success of the Company going forward."
Note to editors:
Timur Weinstein, 38, is a shareholder and chairman of the board of directors of WeiT Media, a production company he founded in 2009. WeiT Media became strategic partners with Endemol, an international television production and distribution company, in 2010. Endemol now owns 51% of WeiT Media. Mr. Weinstein has been a producer and director of the National Cinema Award ceremony "Nika" since 2000, and a producer and director of the National Sport Award ceremony "Slava" since 2003. Between 2000 and 2006 Mr. Weinstein was a shareholder and general producer of Lean-M Company, one of Russia's top production companies, which he founded. Sony Pictures Television International (SPTI) acquired a controlling share of Lean-M Company in 2006, the first joint venture between a major international television company and a Russian production company. SPTI purchased Mr. Weinstein's share of Lean-M Company in 2009. Mr. Weinstein graduated from Azerbaijan State Medical University in 1996 with a degree in psychiatry and from the Russian Institute of TV Workers in 1997 with a degree in TV directing. He is a member of the Russian Academy of Television, the Russian Academy of Cinematographic Art, and the Russian Producers Association.
About CTC Media, Inc.
CTC Media is a leading independent media company in Russia, with operations throughout Russia and in a number of other CIS markets. It operates three free-to-air television networks in Russia – CTC, Domashny and Peretz – as well as Channel 31 in Kazakhstan and a TV company in Moldova, with a combined potential audience of over 150 million people. The international pay-TV version of the CTC channel is available in North America, Europe, North Africa, the Middle East, Central and South East Asia. CTC Media also has its own TV content production capabilities through its Story First Production subsidiary. The Company's common stock is traded on The NASDAQ Global Select Market under the symbol "CTCM". For more information on CTC Media, please visit www.ctcmedia.ru.