Cleary Gottlieb represented UTH Russia in its acquisition of the operating assets of CTC Media Inc. for approximately $200 million. The deal closed on December 24, 2015; the final purchase price will reflect the performance of the business through the end of the year, and is expected to be determined by February 1, 2016.
UTH Russia is one of the fastest-growing Russian commercial television broadcasters, operating the U Channel, the Disney Channel and the cable channel MUZ-TV. CTC operates four broadcast television channels in Russia, including its flagship CTC channel and a channel in Kazakhstan. The deal is a rare instance of an acquisition of a Russian business via a U.S. public M&A transaction.
