Exhibit 99.1

CTC MEDIA

FINANCIAL RESULTS FOR

THE SECOND QUARTER ENDED JUNE 30, 2012

Moscow, Russia — August 7, 2012 — CTC Media, Inc. (“CTC Media” or the “Company”) (NASDAQ: CTCM), Russia’s leading independent media company, today announced its unaudited consolidated financial results for the second quarter, ended June 30, 2012.

SECOND QUARTER FINANCIAL HIGHLIGHTS

·                  Total revenues of $187.6 million — up 2% year-on-year in ruble terms

·                  Russian advertising sales stable year-on-year in ruble terms

·                  OIBDA of $54.1 million with an OIBDA margin of 28.8%

·                  Fully diluted earnings per share of $0.22

·                  Net cash position(3) of $124.2 million at end of the period

·                  $0.13 per share cash dividend to be paid on September 28, 2012 to stockholders of record as of September 1, 2012

OPERATING HIGHLIGHTS

·                  Appointment of Boris Podolsky as CEO of CTC Media in June

·                  Combined Russian national inventory 98% sold-out for Q2 and approximately 90% contracted for the full year

·                  Domashny Network recorded all-time high quarterly target audience share of 3.8% in Q2

·                  Launch of CTC-International channel via the terrestrial network in Kyrgyzstan in April; on cable networks in Armenia, Azerbaijan and Georgia in May; and on cable networks in Thailand in July

·                  Launch of Domashny and Peretz apps on LG smart TVs in July

·                  Acquisition of regional television stations in Belgorod (for CTC channel) and Bratsk (for Peretz channel)

(1)  OIBDA is defined as operating income before depreciation and amortization (excluding amortization of programming rights and sublicensing rights).

(2)  OIBDA margin is defined as OIBDA divided by total operating revenues. Both OIBDA and OIBDA margin are non-GAAP financial measures. Please see the accompanying financial tables at the end of this release for a reconciliation of OIBDA to operating income and OIBDA margin to operating income margin.

(3)  Net cash position is defined as cash, cash equivalents and short-term investments less interest bearing liabilities.

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Boris Podolsky, Chief Executive Officer of CTC Media, commented: “Our total operating revenues were up 10% in ruble terms in the first half of 2012, while our Russian TV advertising sales grew by 7% and in line with the estimated growth in Russian TV advertising spending. The advertising market growth was lower in the second quarter than in the first quarter as anticipated, due mainly to the comps in 2011.

“Our Domashny and Peretz Networks continued to generate higher ratings and Domashny recorded its highest ever quarterly target audience share in the second quarter. Revenues for our CIS operations were up 31% year-on-year in US dollar terms in the first half of 2012, following higher sellout ratios for Channel 31 in Kazakhstan. CTC-International more than tripled its sales in US dollar terms in the first half of 2012, as the channel further expanded its broadcast footprint.

“We have continued to invest in our in-house content production and broader programming acquisition, as well as in the build-out of our footprint and online presence. However, our high cash conversion levels have enabled us to pay out quarterly cash dividends totaling $41.1 million in the first half of the year and still end the period with net cash of $124.2 million. As previously announced, we intend to pay out quarterly dividends totaling approximately $80 million in 2012.

“Our Russian channels are now approximately 90% sold out for 2012 at higher average prices than last year and our soon to be launched Fall schedule will feature more prime-time premieres across more genres than ever before - including original productions, adaptations of successful international formats, new series of proven hits and second seasons of successful shows premiered in the Spring.

“We have also made the important strategic decision to adjust the target demographics for the CTC and Peretz Networks to “all 10-45” and “all 25-49”, respectively. The change will take place from the beginning of 2013 and reflects the Company’s overall positioning strategy for Domashny and Peretz and the channels’ high affinity levels in these commercially attractive audience groups. The transition is therefore expected to have a positive impact on both audience shares and inventory levels moving forward.”

“All in all, the outlook for the Russian TV advertising market and our own investments has not changed, and we continue to expect our new media, CIS, sublicensing and CTC-International channel revenues to grow faster than the Russian market.”

Operating Review

Switch to New Target Audiences from 2013

The Company will switch to the following target audiences for CTC and Peretz Networks starting from January 1, 2013:

Domashny Network’s target demographic, “women 25-59”, will remain unchanged.

The switch to the new target audiences for CTC and Peretz is a part of the Company’s overall positioning strategy for these channels reflecting the advertiser demand. The decision to narrow target audiences primarily reflects the Company’s expectation that it will continue to deliver higher audience shares and more advertising inventory in the new demographics.

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Share of Viewing

CTC Network’s average current target audience share was down year-on-year in the second quarter to 8.9% from 11.1% following a decreased amount of first run content on air compared to the second quarter of 2011 and, to a much lesser extent, audience fragmentation.

The fall schedule will feature new episodes of proven formats such as “Daddy’s Daughters”, “Boarding School” and “Voroniny”, as well as premieres of new shows and second seasons of series successfully premiered in the first quarter of 2012, including “Doctor Zaytseva’s Diary” and “The 80’s”.

The Domashny Network recorded its all-time high quarterly target audience share of 3.8% in the second quarter of 2012, up from 3.2% in the second quarter of 2011. This year-on-year increase in Domashny’s target audience share was primarily due to the strong performance of programming, such as foreign series, including Turkish historical drama “Magnificent Century”, as well as locally produced original and acquired content.

The Peretz Network’s target audience share was up year-on-year in the second quarter to 2.6% from 2.1%. The year-on-year growth was primarily driven by the success of the programming schedule introduced following the channel’s repositioning in late 2011, which primarily included locally produced entertainment shows.

Channel 31’s average target audience share was slightly down year-on-year in the second quarter to 15.6% from 15.8%.

Operating Review

Revenues

Total operating revenues were down 8% year-on-year in US dollar terms and up 2% year-on-year in ruble terms in the second quarter. The revenue growth in ruble terms primarily reflected the year-on-year growth of the

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Russian television advertising market and growth in the target audience shares for Domashny and Peretz Networks, partially offset by a decrease in CTC Network audience shares and lower sellout for Domashny Network. The year-on-year decrease in total operating revenues in US dollar terms was due to the depreciation of the Russian ruble against the US dollar in the second quarter of 2012 compared to the second quarter of 2011.

Russian advertising sales accounted for approximately 95% of total operating revenues during the second quarter of 2012 (Q2 2011: 96%) and were down 9% year-on-year in US dollar terms and up 1% year-on-year in ruble terms. Advertising prices were up year-on-year in the period and so was the level of television viewership, which resulted in an overall increase in the advertising inventory on the market. Sellout of CTC Media’s Russian TV channels’ national inventory was lower year-on-year in the second quarter at 98% (Q2 2011: 100%).

The Company’s sublicensing and own-production revenue was down 15% year-on-year in the second quarter in US dollar terms and down 6% year-on-year in ruble terms, primarily as a result of lower sales of content to broadcasters in Ukraine.

Other revenue was up 21% year-on-year in US dollar terms and up 34% year-on-year in ruble terms in the second quarter 2012, primarily reflecting sustained revenue growth from CTC-International.

For the second quarter of 2012, the Company generated advertising revenues of approximately $0.5 million from its new media projects, most of which related to advertising sales on the Videomore.ru portal. For reporting purposes, the new media revenues were allocated to the CTC, Domashny and Peretz networks’ advertising revenues.

(1)  Segment revenues are shown from external customers only, net of intercompany revenues of $12.4 million in the second quarter of 2011, $3.2 million in the second quarter of 2012, $16.3 million in the first six months of 2011 and $11.5 million in the first six months of 2012, which primarily related to revenues from the Production Group that have been eliminated in the consolidation of the Company’s revenues.

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CTC Network and CTC Television Station Group revenues were down year-on-year both in US dollar and ruble terms in the second quarter, primarily due to a decline in CTC Network’s target audience share, partially offset by an increase in prices and the overall growth of television viewership in Russia. In US dollar terms, the revenue dynamics were also negatively impacted by the depreciation of the Russian ruble against the US dollar.

Combined revenues for Domashny Network and Domashny Television Station Group were down year-on-year in US dollar terms and stable in ruble terms in the second quarter. This was driven primarily by the depreciation of the Russian ruble against the US dollar and decreased sellout, partially offset by the increase in audience share.

Peretz Network and Peretz Television Station Group revenues were up both in US dollar terms and ruble terms in the second quarter, primarily due to audience share gains and, to a lesser extent, the increase in advertising prices. In US dollar terms, the revenue growth was partially offset by the depreciation of the Russian ruble against the US dollar.

The CIS Group, which accounted for 3% of revenues in the second quarter of 2012 (Q2 2011: 2%), reported a 25% year-on-year increase in sales in US dollar terms. This primarily reflected the higher sellout for Channel 31 in Kazakhstan.

Expenses

Total operating expenses were down 3% year-on-year in the second quarter in US dollar terms and up 7% in ruble terms. The year-on-year increase in ruble terms primarily reflected the year-on-year increases in programming amortization costs and direct operating expenses and selling, general and administrative expenses, though these increases were partially offset by the year-on-year decrease in stock-based compensation expenses.

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Direct operating expenses were up 5% year-on-year in US dollar terms in the second quarter and up 17% in ruble terms, largely as a result of increased transmission fees and broadcasting expenses relating to regional stations acquired after Q2 2011.

Selling, general and administrative expenses were down 4% year-on-year in US dollar terms in the second quarter and up 7% in ruble terms. Year-on-year growth in ruble terms was primarily driven by increased salaries and benefits and higher research and consulting expenses. Compensation payable to Video International, which was included in selling, general and administrative expenses, amounted to $20.2 million in the second quarter of 2012 (Q2 2011: $22.2 million).

Stock-based compensation expenses totaled $0.7 million in the second quarter (Q2 2011: $8.6 million). The year-on-year decrease in stock-based compensation expenses principally resulted from the departure of the Company’s former CEO at the end of 2011, as a result of which his options ceased to vest.

Programming expenses were up 5% year-on-year in US dollar terms and up 17% in ruble terms in the second quarter, primarily reflecting a more expensive content mix on CTC Network and, to a lesser extent, Domashny Network and Channel 31 in Kazakhstan. Year-on-year growth in amortization of programming rights for the CTC Network was mainly due to an increased number of hours of foreign movies aired in the quarter and higher costs associated with the third season of the hit “Boarding School” series aired in the second quarter of 2012 compared to its first season aired in the second quarter of 2011. The increase in the “Boarding School” programming expenses was driven by substantial content inflation, an increased number of episodes aired (Q2 2012: 44 episodes, Q2 2011: 20 episodes), and airing two runs of the series in Q2 2012  compared to one run in Q2 2011.

CTC Media’s consolidated OIBDA was therefore down 18% year-on-year in US dollar terms to $54.1 million in the second quarter (Q2 2011: $66.0 million). OIBDA margin was 28.8% in the second quarter (Q2 2011: 32.3%).

Depreciation and amortization expenses were up 18% year-on-year in US dollar terms and up 31% year-on-year in ruble terms in the second quarter. The increase was primarily due to the launch of the new digital broadcasting complex in Moscow in July 2011.

Net interest income was $1.7 million in the second quarter (Q2 2011: $1.1 million). Foreign currency gain was $1.9 million in the second quarter (Q 2011: $0.6 million) and primarily represented gains received from our US dollar forward contracts.

Pre-tax income therefore decreased by 16% year-on-year in US dollar terms to $53.7 million in the second quarter (Q2 2011: $63.9 million).

CTC Media’s effective tax rate was 34% in the second quarter (Q2 2011: 37%). The year-on-year decrease in the effective tax rate was primarily due to decreases, as a percentage of consolidated income before tax, in stock-based compensation expense, and the recognition of certain foreign tax credits that will be deducted from the US income tax.

Net income attributable to CTC Media, Inc. stockholders therefore was down 11% year-on-year to $34.0 million in the second quarter (Q2 2011: $38.5 million), and fully diluted earnings per share decreased to $0.22 (Q2 2011: $0.24).

Cash Flows and Financial Position

The Company’s net cash flows from operating activities were up year-on-year to $61.9 million for the first six

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months of 2012 (H1 2011: $38.6 million) and primarily reflected the decrease in taxes paid in the first six months of 2012 when comparing to the same period of 2011, mainly due to US income tax and VAT.

Net cash received from investing activities totaled $9.1 million for the first six months of 2012 (H1 2011: net cash used in financing activities totaled $9.6 million) and primarily related to $17.6 million of net cash receipts from deposits, partially offset by $5.8 million of capital expenditures (mainly purchases of cable connections and leasehold improvements for the new Company’s office facilities in Moscow) and $2.7 million paid in relation to the acquisition of regional television stations in Russia.

Cash used in financing activities amounted to $57.1 million in the first half of 2012 (H1 2011: $58.0 million) and included the payment of $41.1 million in cash dividends to the Company’s stockholders and $3.1 million in dividends to minority shareholders of the Company’s subsidiaries, as well as the settlement of the Company’s $17.5 million bank overdraft, partially offset by $4.6 million in proceeds received from the exercise of stock options by the Company’s former CEO.

The Company’s net cash position (cash and cash equivalents and short-term investments less interest bearing liabilities) amounted to $124.2 million as of June 30, 2012, compared to $129.5 million at the end of the second quarter of 2011 and $111.0 million at the end of the first quarter of 2012. The Company had no debt as of June 30, 2012.

Dividends

The CTC Media Board of Directors has declared a cash dividend of $0.13 per share (or approximately $20 million in the aggregate) to be paid on or about September 28, 2012 to shareholders of record as of September 1, 2012, with further dividends anticipated in the fourth quarter of 2012. The Board of Directors currently intends to pay aggregate cash dividends of approximately $80 million in 2012. While it is the Board’s current intention to declare and pay further dividends in the fourth quarter of 2012, there can be no assurance that such additional dividends will be declared and paid. The lower anticipated payments in 2012 compared to 2011 reflect the increased investments that the Company is making and plans to make in programming and in the overall development of the business during 2012. All dividend payments are subject to the discretion of the Board, which will consider factors such as CTC Media’s earnings, financial position and capital allocation requirements as a growth company before formally approving each quarterly dividend.

Conference Call

The Company will host a conference call to discuss its 2012 second quarter financial results today, August, 7, 2012, at 9:00 a.m. ET (5:00 p.m. Moscow time, 2:00 p.m. London time). To access the conference call, please dial:

US/International:        +1 631 510 7498

UK/International:       +44 (0) 1452 555 566

Passcode:        98912103

A live webcast of the conference call will also be available via the investor relations section of the Company’s corporate web site - www.ctcmedia.ru/investors. The webcast will also be archived on the Company’s web site for replay purposes.

About CTC Media, Inc.

CTC Media is a leading independent media company in Russia, with operations throughout Russia and in a

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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 Southeast 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 about CTC Media, please visit www.ctcmedia.ru.

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For further information, please visit www.ctcmedia.ru or contact:

CTC Media, Inc.

Investor Relations
Ekaterina Ostrova

Tel: +7 495 783 3650

or Irina Klimova
Tel: +7 495 981 0740
ir@ctcmedia.ru

Media Relations
Victoria Bakaeva
Tel: +7 495 785 6347, ext 1210

or Anna Zvereva

Tel: +7 495 785 6347, ext 1212

pr@ctcmedia.ru

Use of Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with US GAAP, the Company uses the following non-GAAP financial measures: OIBDA (on a consolidated and segment basis) and OIBDA margin. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the accompanying financial tables included at the end of this release.

The Company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding certain expenses that may not be indicative of its recurring core business operating results. These metrics are used by management to further its understanding of the Company’s operating performance in the ordinary, ongoing and customary course of operations. The Company also believes that these metrics provide investors and equity analysts with a useful basis for analyzing operating performance against historical data and the results of comparable companies.

OIBDA and OIBDA margin. OIBDA is defined as operating income before depreciation and amortization (exclusive of amortization of programming rights and sublicensing rights). OIBDA margin is defined as OIBDA divided by total operating revenues. The most directly comparable GAAP measures to OIBDA and OIBDA margin are operating income and operating income margin, respectively. Unlike operating income, OIBDA excludes depreciation and amortization, other than amortization of programming rights and sublicensing rights. The purchase of programming rights is the Company’s most significant expenditure that enables it to generate revenues, and OIBDA includes the impact of the amortization of these rights.

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Expenditures for capital items such as property, plant and equipment have a materially less significant impact on the Company’s ability to generate revenues. For this reason, the Company excludes the related depreciation expense for these items from OIBDA. Moreover, a significant portion of the Company’s intangible assets were acquired in business acquisitions. The amortization of intangible assets is therefore also excluded from OIBDA.

Caution Concerning Forward Looking Statements

Certain statements in this press release that are not based on historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements include, among others, statements regarding developments of the Company’s target markets; the Company’s anticipated advertising sellout in 2012; the further development of the Peretz and Domashny channels; etc. These statements reflect the Company’s current expectations concerning future results and events. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CTC Media to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The potential risks and uncertainties that could cause actual future results to differ from those expressed by forward-looking statements include, among others, changes in the size of the Russian television advertising market; the continued successful operation of the Company’s own internal sales house structure; competitive pressures; depreciation of the value of the Russian ruble compared to the US dollar; the Company’s ability to deliver audience share, particularly in primetime, to its advertisers; free-to-air television remaining a significant advertising forum in Russia; and restrictions on foreign involvement in the Russian television business. These and other risks are described in the “Risk Factors” section of CTC Media’s annual report on Form 10-K filed with the SEC on February 28, 2012, and its quarterly report on Form 10-Q to be filed with the SEC on or about the date hereof.

Other unknown or unpredictable factors could have material adverse effects on CTC Media’s future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed herein may not occur. You are cautioned not to place undue reliance on these forward-looking statements. CTC Media does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

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CTC MEDIA, INC, AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

AND COMPREHENSIVE INCOME (LOSS)

(in thousands of US dollars, except share and per share data)

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CTC MEDIA, INC, AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands of US dollars)

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CTC MEDIA, INC, AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands of US dollars, except share and per share data)

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CTC MEDIA, INC. AND SUBSIDIARIES

UNAUDITED SEGMENT FINANCIAL INFORMATION

(in thousands of US dollars)

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