MOSCOW, July 6 (UPI) -- Russian broadcaster CTC Media said Monday it had received a $200 million offer for 75 percent of its operating assets in Russia and Kazakhstan from UTH Russia, which is part-owned by billionaire Alisher Usmanov. Russia and Kazakhstan's CTC Media, in which Sweden's Modern Times Group approximately owns a 38 percent stake, has been looking for a buyer for months to comply with a new Russian law which has limited foreign ownership in media companies to 20 percent beginning January 1, 2016.
Ivan Tavrin's company M1, which includes Disney Russia, owns the other 50 percent of UTH.