<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2009-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>1</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001354513</issuerCik>
        <issuerName>CTC Media, Inc.</issuerName>
        <issuerTradingSymbol>CTCM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001484114</rptOwnerCik>
            <rptOwnerName>Gofman Irina</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CTC MEDIA, INC. 15A, PRAVDA STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MOSCOW, 125124</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>Russia</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionCoding>
                <transactionFormType>3</transactionFormType>
            </transactionCoding>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>60008800</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By MTG Russia AB</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Irina Gofman joined the issuer's Board of Directors on July 9, 2008.</footnote>
        <footnote id="F2">Ms. Gofman disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.  Ms. Gofman is the Chief Executive Officer of MTG Russia AB (&quot;MTG Russia&quot;).  MTG Russia holds 60,008,800 shares of the issuer's common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Anna Poutko, Attorney-in-fact</signatureName>
        <signatureDate>2010-02-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
