EXHIBIT 21.1

SUBSIDIARIES OF CTC MEDIA, INC.

Subsidiary	Percentage Ownership (Direct or indirect)
Advertising and Marketing LLP (Kazakhstan)	60	%
Channary, Ltd. (Cyprus)	74	%
OAO Teleexpress (Moscow)	100	%
OAO VnC Permprades (Perm)	80.02	%
OOO AC Region (Irkutsk)	51	%
OOO BelTV (Belgorod)	10	%
OOO Costafilm (Moscow)	100	%
OOO CTC Balakovo (Balakovo)	50	%
ZAO CTC (Moscow)	100	%
OOO CTC Communications (Moscow)	100	%
OOO Independent Broadcasting Co. (Chelyabinsk)	100	%
OOO CTC Investments (Moscow)	100	%
OOO CTC Irkutsk (Irkutsk)	51	%
OOO CTC Karelia (Petrozavodsk)	51	%
OOO CTC-Saratov (Saratov)	100	%
OOO CTC Ufa (Ufa)	100	%
OOO CTC Volgograd (Volgograd)	100	%
OOO CTC Voskhod (Vladivostok)	74	%
ZAO EvereST-S (Moscow)	100	%
OOO Irkutsk TV (Irkutsk)	51	%
OOO Kompania Region (Tula)	100	%
OOO Kontinent-50 (Vladivostok)	100	%
OOO Marathon TV (Moscow)	100	%
OOO Media Region (Irkutsk)	51	%
OOO “MRG” (Moscow)	100	%
OOO “Nomad” (Moscow)	100	%
OOO Novy Radioproject (Ekaterinburg)	100	%
OOO NTK (N. Novgorod)	100	%
OOO ORT (Moscow)	100	%
OOO PKF Radiosvyaz (Voronezh)	100	%
OOO Premi (Moscow)	100	%
OOO Programma,Servis, Montazh (Rostov)	100	%
OOO Region-25 (Vladivostok)	100	%
OOO RT (Moscow)	100	%
OOO Samara Business Club (Samara)	21	%
OOO Sof Tele Media (Uzbekistan)	51.06	%
OOO Soho Media (Moscow)	100	%
OOO Stav. Vesh. Corp. (Stavropol)	100	%
OOO TC g.Kemerovo Tom’ (Kemerovo)	100	%
OOO TC Vecher (Barnaul)	51	%
OOO Telekompania MIG TV (Ekaterinburg)	100	%
OOO TV Company T8 (Perm)	100	%
OOO TV-Domashny (Moscow)	100	%
OOO TV Station Mir (Novosibirsk)	50	%
ZAO TVS (Severodvinsk)	100	%
ZAO TRK Kronstadt (S.-Petersburg)	100	%
OOO Vega-TV (Barnaul)	51	%
OOO VK XXI vek (Achinsk)	100	%
OOO Vertical (Kirov)	100	%
OOO VTK (Voronezh)	90	%
Prim LLP (Kazakhstan)	70	%
Sablock, Ltd (Cyprus)	100	%
SRL TeleDixi (Moldova)	51	%

Teleradiokompaniya 31st Kanal LLP (Kazakhstan)	20	%
ZAO Telecompany 6 Channel (St. Petersburg)	80	%
ZAO CTC Region (Moscow)	100	%
ZAO CTC Saratov (Saratov)	74	%
ZAO Kanal 6 (Kazan)	100	%
ZAO Nevsky Kanal (St. Petersburg)	100	%
ZAO Novy Kanal (Moscow)	100	%
ZAO Orion TV (Samara)	100	%
ZAO Radio-Volga-TV (Samara)	100	%
ZAO RTK (Ekaterinburg)	51.44	%
ZAO “TV Darial” (Moscow)	100	%
ZAO TV Maxima (Perm)	85	%
ZAO TV&Radio Co. Gubernia (Tver)	100	%
ZAO Variant (Kazan)	100	%
ZAO Yuzhny Region Holding (Rostov)	51.05	%
ZAO AVTO-TV (Perm)	100	%
ZAO Zodiak (Omsk)	84.18	%
ZAO “Zollen” (Moscow)	100	%
ZAO Radio 59 (Moscow)	10	%

All subsidiaries listed above are organized under the laws of the Russian Federation, other than as indicated above.