The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( MagicDiligence) -- The easiest way to think about CTC Media (CTCM - Get Report) is as "the Russian CBS (CBS)." While many understandably flinch at the idea of investing in such a volatile country as Russia, CTC looks like a well-run, conservative outfit. This broadcast network is debt-free (pretty remarkable for a media company) and has nearly $130 million in cash on the balance sheet. Operating margins and cash flow generation have been steady over the past 5 years, even in the 2008-09 period. Share dilution has been minimal.
A Russian Media Firm That May Actually Help Your Portfolio
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