SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* IVASHENTSEVA ELENA (Last) (First) (Middle) C/O BARING VOSTOK CAPITAL PARTNERS GASHEKA STR. 7, SUITE 750 (Street) MOSCOW 1Z 123056 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 05/31/2006	3. Issuer Name and Ticker or Trading Symbol CTC Media, Inc. [ CTCM ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	21,541,600	I	See(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Consists of 17,776,800 shares held by Cavendish Nominees Limited ("Cavendish") and 3,764,800 shares held by Sector Investment Holding Company Limited ("Sector"). Ms. Ivashentseva is a partner of Baring Vostok Capital Partners Limited, the investment manager of the funds for which Cavendish acts as nominee and the owner of Sector. Ms. Ivashentseva disclaims beneficial ownership of such shares except to the extent of her pecuniary interest therein.

	/s/ Elena Ivashentseva	05/31/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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