CTCM » Topics » Item 9B. Other Information.

These excerpts taken from the CTCM 10-K filed Feb 29, 2008.

Item 9B.    Other Information.

        On February 29, 2008, we entered into an amendment to the Purchase Agreement in respect of Channel 31 dated January 25, 2008 with "Art Media Capital" Closed Unit Investment Fund of Risk Investments, under the management of Kazkommerts Securities JSC, a joint stock corporation organized under the laws of the Republic of Kazakhstan (the "Seller"); Verny Capital JSC, a joint stock company organized under the laws of the Republic of Kazakhstan; "Vernye Investitsyi" Closed Unit Investment Fund of Risk Investments; and Channel 31.

        Pursuant to this amendment, among other things, $10 million of the total purchase price of $65 million has been retained by us pending the completion of the transfer of ownership of six regional television stations to Channel 31, and receipt of applicable anti-monopoly approvals in connection with such transfers. Pursuant to the amendment, such additional actions and payment are to be completed before the end of the first quarter of 2008. The acquisition of our interest in Channel 31 closed on February 29, 2008.

        The foregoing summary is qualified in its entirety by reference to the Amendment filed as exhibit hereto as Exhibit 10.71.1 to this Annual Report on Form 10-K.

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PART III

Item 9B.    Other Information.



        On February 29, 2008, we entered into an amendment to the Purchase Agreement in respect of Channel 31 dated January 25, 2008 with "Art Media Capital" Closed Unit
Investment Fund of Risk Investments, under the management of Kazkommerts Securities JSC, a joint stock corporation organized under the laws of the Republic of Kazakhstan (the "Seller"); Verny Capital
JSC, a joint stock company organized under the laws of the Republic of Kazakhstan; "Vernye Investitsyi" Closed Unit Investment Fund of Risk Investments; and Channel 31.



        Pursuant
to this amendment, among other things, $10 million of the total purchase price of $65 million has been retained by us pending the completion of the transfer of ownership
of six regional television stations to Channel 31, and receipt of applicable anti-monopoly approvals in connection with such transfers. Pursuant to the amendment, such additional actions and payment
are to be completed before the end of the first quarter of 2008. The acquisition of our interest in Channel 31 closed on February 29, 2008.




        The
foregoing summary is qualified in its entirety by reference to the Amendment filed as exhibit hereto as Exhibit 10.71.1 to this Annual Report on Form 10-K.



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PART III



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 29, 2008
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