Exhibit 10.66  CTC MEDIA, INC. NOTICE
OF GRANT OF STOCK OPTION  Notice is
hereby given of the following option grant (the Option) to purchase shares of
the Common Stock of CTC Media, Inc. (the Corporation):  Optionee:  Viacheslav Sinadski  Grant Date:  May 2, 2007  Exercise Price:  $26.74 per share.  Number of Option Shares:  150,000 shares  Expiration Date:  May 2, 2017  Type of Option:
o 
Incentive Stock Option  x   Non-Statutory Stock Option  Date
Exercisable: 
The Option shall become exercisable with respect to the Option Shares as
follows:  Date
  
  Aggregate Number of Option Shares for
  which the Option is then ExercisableOn and after May 2, 2008
  
  50,000On and after September 30, 2008
  
  62,500On and after December 31, 2008
  
  75,000On and after March 31, 2009
  
  87,500On and after June 30, 2009
  
  100,000On and after September 30, 2009
  
  112,500On and after December 31, 2009
  
  125,000On and after March 31, 2010
  
  137,500On and after June 30, 2010
  
  150,000  Optionee
understands and agrees that the Option is granted subject to and in accordance
with the terms of the CTC Media, Inc. (f/k/a StoryFirst Communications, Inc.)
1997 Stock Option/Stock Issuance Plan (as amended to date, the Plan).
Optionee further agrees to be bound by the terms of the Plan and the terms of
the Option as set forth in the Stock Option Agreement attached hereto as Exhibit A
and incorporated herein by reference.  Optionee
hereby acknowledges receipt of a copy of the Plan in the form attached
hereto as Exhibit B.  No Employment
or Service Contract. Nothing in this Notice or in the
attached Stock Option Agreement or Plan shall confer upon Optionee any right to
continue in Service for any


period of
specific duration or interfere with or otherwise restrict in any way the rights
of the Corporation (or any Parent or Subsidiary employing or retaining
Optionee) or of Optionee, which rights are hereby expressly reserved by each,
to terminate Optionees Service at any time for any reason, with or without
cause.  Definitions.
All capitalized terms in this Notice shall have the meaning assigned to them in
this Notice or in the attached Stock Option Agreement.  May 2, 2007 CTC MEDIA, INC.By:
  /s/ Alexander Rodnyansky/s/ Viacheslav SinadskiViacheslav Sinadski


EXHIBIT A  STOCK
OPTION AGREEMENT


CTC MEDIA, INC. STOCK
OPTION AGREEMENT  RECITALS  A.The Board has adopted the Plan for the
purpose of retaining the services of selected Employees, non-employee members
of the Board or the board of directors of any Parent or Subsidiary and
consultants and other independent advisors in the service of the Corporation
(or any Parent or Subsidiary).  B.Optionee is to render valuable services to
the Corporation (or a Parent or Subsidiary), and this Agreement is executed
pursuant to, and is intended to carry out the purposes of, the Plan in
connection with the Corporations grant of an option to Optionee.  C.All
capitalized terms in this Agreement shall have the meaning assigned to them in
the attached Appendix.  NOW, THEREFORE, it is hereby agreed as follows:  1.Grant of Option. The Corporation hereby grants to Optionee,
as of the Grant Date, an option to purchase up to the number of Option Shares
specified in the Grant Notice. The Option Shares shall be purchasable from time
to time during the option term specified in Paragraph 2 at the Exercise Price.  2.Option Term. This option shall have a term of ten (10) years
measured from the Grant Date and shall accordingly expire at the close of
business on the Expiration Date, unless sooner terminated in accordance with
Paragraph 5 or 6.  3.Limited Transferability. During Optionees
lifetime, this option shall be exercisable only by Optionee and shall not be
assignable or transferable other than by will or by the laws of descent and
distribution following Optionees death.  4.Dates of Exercise. This option shall become
exercisable for the Option Shares in one or more installments as specified in
the Grant Notice. As the option becomes exercisable for such installments,
those installments shall accumulate and the option shall remain exercisable for
the accumulated installments until the Expiration Date or sooner termination of
the option term under Paragraph 5 or 6.  5.Cessation of Service. The option term specified
in Paragraph 2 shall terminate (and this option shall cease to be outstanding)
prior to the Expiration Date should any of the following provisions become
applicable:  (a)Should
Optionee cease to remain in Service for any reason (other than death or
Disability) while this option is outstanding, then Optionee shall have a period
of ninety (90) days (commencing with the date of such cessation of Service)
during which to exercise this option, but in no event shall this option be
exercisable at any time after the Expiration Date.  1


(b)Should
Optionee die while this option is outstanding, then the personal representative
of Optionees estate or the person or persons to whom the option is transferred
pursuant to Optionees will or in accordance with the laws of inheritance shall
have the right to exercise this option. Such right shall lapse, and this option
shall cease to be outstanding, upon the earlier of (i) the expiration of
the twelve (12) month period measured from the date of Optionees death or (ii) the
Expiration Date.  (c)Should
Optionee cease Service by reason of Disability while this option is
outstanding, then Optionee shall have a period of twelve (12) months
(commencing with the date of such cessation of Service) during which to
exercise this option. In no event shall this option be exercisable at any time
after the Expiration Date.  (d)During
the limited period of post-Service exercisability, (i) this option may not
be exercised in the aggregate for more than the number of Option Shares for
which this Option is, at the time of Optionees cessation of Service,
exercisable pursuant to the exercise schedule specified in the Grant
Notice or the special acceleration provisions of Paragraph 6 and (ii) this
Option may not be exercised at all if the Optionee is in breach of any
non-competition or non-solicitation provisions of any employment agreement with
the Corporation. Upon the expiration of such limited exercise period or (if
earlier) upon the Expiration Date, this option shall terminate and cease to be
outstanding for any vested Option Shares for which the option has not been
exercised. To the extent Optionee is not vested in the Option Shares at the
time of Optionees cessation of Service, this option shall immediately
terminate and cease to be outstanding with respect to those shares.  6.Acceleration of Option.  (a)In
the event of any Corporate Transaction, the exercisability of this option, to
the extent this option is not otherwise fully exercisable, shall automatically
accelerate in full so that this option shall, immediately prior to the
effective date of the Corporate Transaction, become fully exercisable for all
the Option Shares and may be exercised for any or all of those Option
Shares as fully-vested shares of Common Stock. However, the exercisability of
the Option Shares shall not so
accelerate if and to the extent: (i) this option is assumed by the
successor corporation (or parent thereof) in the Corporate Transaction of this
option to the extent this option is not otherwise fully exercisable or (ii) this
option is to be replaced with a cash incentive program of the successor
corporation which preserves the spread existing on the unvested Option Shares
at the time of the Corporate Transaction (the excess of the Fair Market Value
of those Option Shares over the Exercise Price payable for such shares) and
provides for subsequent payout in accordance with the same exercise schedule applicable
to those unvested Option Shares as set forth in the Grant Notice unless, in
either case, the Plan Administrator has determined that the exercisability of
the Option Shares shall accelerate automatically upon the occurrence of a
Corporate Transaction regardless of whether those options are to be assumed or
replaced in the Corporate Transaction.  (b)Immediately
following the Corporate Transaction, this option shall terminate and cease to
be outstanding, except to the extent assumed by the successor corporation (or
parent thereof) in connection with the Corporate Transaction.  (c)If
this option is assumed in connection with a Corporate Transaction, then this
option shall be appropriately adjusted, immediately after such Corporate
Transaction, to apply to the number and class of securities which would
have been issuable to Optionee in  2


consummation
of such Corporate Transaction had the option been exercised immediately prior
to such Corporate Transaction, and appropriate adjustments shall also be made
to the Exercise Price, provided the aggregate Exercise Price shall remain the
same.  (d)This
Agreement shall not in any way affect the right of the Corporation to adjust,
reclassify, reorganize or otherwise change its capital or business structure or
to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of
its business or assets.  7.Adjustment in Option Shares. Should any change be made
to the Common Stock by reason of any stock split, stock dividend,
recapitalization, combination of shares, exchange of shares or other change
affecting the outstanding Common Stock as a class without the Corporations
receipt of consideration, appropriate adjustments shall be made to (i) the
total number and/or class of securities subject to this option and (ii) the
Exercise Price in order to reflect such change and thereby preclude a dilution
or enlargement of benefits hereunder.  8.Shareholder Rights. The holder of this option shall
not have any shareholder rights with respect to the Option Shares until such
person shall have exercised the option, paid the Exercise Price and become a
holder of record of the purchased shares.  9.Manner of Exercising Option.  (a)In
order to exercise this option with respect to all or any part of the
Option Shares for which this option is at the time exercisable, Optionee (or
any other person or persons exercising the option) must take the following
actions:  (i)Execute
and deliver to the Corporation an Exercise Notice.  (ii)Pay
the aggregate Exercise Price for the purchased shares in one or more of the
following forms:  (A)cash
or check made payable to the Corporation or by wire transfer to an account
designated by the Corporation; or  (B)a
promissory note payable to the Corporation, but only to the extent authorized
by the Plan Administrator in accordance with Paragraph 13.  Should
the Common Stock be registered under Section 12(g) of the 1934 Act at
the time the option is exercised, then the Exercise Price may also be paid
as follows:  (C)in
shares of Common Stock held by Optionee (or any other person or persons
exercising the option) for the requisite period necessary to avoid a charge to
the Corporations earnings for financial reporting purposes and valued at Fair
Market Value on the Exercise Date; or  (D)through
a special sale and remittance procedure pursuant to which Optionee (or any
other person or persons exercising the option) shall concurrently provide
irrevocable written instructions (a) to a Corporation-designated brokerage
firm to effect the immediate sale of the  3


purchased
shares and remit to the Corporation, out of the sale proceeds available on the
settlement date, sufficient funds to cover the aggregate Exercise Price payable
for the purchased shares plus all applicable federal, state and local income
and employment taxes required to be withheld by the Corporation by reason of
such exercise and (b) to the Corporation to deliver the certificates for
the purchased shares directly to such brokerage firm in order to complete the
sale.  Except
to the extent the sale and remittance procedure is utilized in connection with
the option exercise, payment of the Exercise Price must accompany the Exercise
Notice delivered to the Corporation in connection with the option exercise.  (iii)Furnish
to the Corporation appropriate documentation that the person or persons
exercising the option (if other than Optionee) have the right to exercise this
option.  (iv)Execute
and deliver to the Corporation such written representations as may be
requested by the Corporation in order for it to comply with the applicable
requirements of Federal and state securities laws.  (v)Make
appropriate arrangements with the Corporation (or Parent or Subsidiary
employing or retaining Optionee) for the satisfaction of all federal, state and
local income and employment tax withholding requirements applicable to the
option exercise.  (b)As
soon as practical after the Exercise Date, the Corporation shall issue to or on
behalf of Optionee (or any other person or persons exercising this option) a
certificate for the purchased Option Shares, with the appropriate legends
affixed thereto.  (c)In
no event may this option be exercised for any fractional shares.  10.Compliance with Laws and Regulations.  (a)The
exercise of this option and the issuance of the Option Shares upon such
exercise shall be subject to compliance by the Corporation and Optionee with
all applicable requirements of law relating thereto and with all applicable
regulations of any stock exchange (or the Nasdaq Global Market, if applicable)
on which the Common Stock may be listed for trading at the time of such
exercise and issuance.  (b)The
inability of the Corporation to obtain approval from any regulatory body having
authority deemed by the Corporation to be necessary to the lawful issuance and
sale of any Common Stock pursuant to this option shall relieve the Corporation
of any liability with respect to the non-issuance or sale of the Common Stock
as to which such approval shall not have been obtained. The Corporation,
however, shall use its best efforts to obtain all such approvals.  11.Successors and Assigns. Except to the extent
otherwise provided in Paragraphs 3 and 6, the provisions of this Agreement
shall inure to the benefit of, and be binding  4


upon,
the Corporation and its successors and assigns and Optionee, Optionees assigns
and the legal representatives, heirs and legatees of Optionees estate.  12.Notices. Any notice required to be given or
delivered to the Corporation under the terms of this Agreement shall be in
writing and addressed to the Corporation at its principal corporate offices. Any
notice required to be given or delivered to Optionee shall be in writing and
addressed to Optionee at the address indicated below Optionees signature line
on the Grant Notice. All notices shall be deemed effective upon personal
delivery or upon deposit in the mail, postage prepaid and properly addressed to
the party to be notified.  13.Financing. The Plan Administrator may, in its
absolute discretion and without any obligation to do so, permit Optionee to pay
the Exercise Price for the purchased Option Shares by delivering a
full-recourse, interest-bearing promissory note secured by those Option Shares.
The payment schedule in effect for any such promissory note shall be
established by the Plan Administrator in its sole discretion.  14.Construction. This Agreement and the option
evidenced hereby are made and granted pursuant to the Plan and are in all
respects limited by and subject to the terms of the Plan. All decisions of the
Plan Administrator with respect to any question or issue arising under the Plan
or this Agreement shall be conclusive and binding on all persons having an
interest in this option.  15.Governing Law. The interpretation, performance
and enforcement of this Agreement shall be governed by the laws of the State of
Delaware without resort to that States conflict-of-laws rules.  16.Shareholder Approval. If the Option Shares
covered by this Agreement exceed, as of the Grant Date, the number of shares of
Common Stock which may be issued under the Plan as last approved by the
shareholders, then this option shall be void with respect to such excess
shares, unless shareholder approval of an amendment sufficiently increasing the
number of shares of Common Stock issuable under the Plan is obtained in
accordance with the provisions of the Plan.  5


APPENDIX  The following
definitions shall be in effect under the Agreement:  A. Agreement
shall mean this Stock Option Agreement.  B.Board shall mean the
Corporations Board of Directors.  C. Common
Stock shall mean the Corporations common stock.  D. Corporate
Transaction shall mean either of the following
shareholder-approved transactions to which the Corporation is a party:  (i)a
merger or consolidation in which securities possessing more than fifty percent
(50%) of the total combined voting power of the Corporations outstanding securities
are transferred to a person or persons different from the persons holding those
securities immediately prior to such transaction, or  (ii)the
sale, transfer or other disposition of all or substantially all of the
Corporations assets in complete liquidation or dissolution of the Corporation.  E. Corporation
shall mean CTC Media, Inc., a Delaware corporation.  F. Disability
shall mean the inability of Optionee to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment
and shall be determined by the Plan Administrator on the basis of such medical
evidence as the Plan Administrator deems warranted under the circumstances. Disability
shall be deemed to constitute Permanent Disability
in the event that such Disability is expected to result in death or has lasted
or can be expected to last for a continuous period of twelve (12) months or
more.  G. Employee
shall mean an individual who is in the employ of the Corporation (or any Parent
or Subsidiary), subject to the control and direction of the employer entity as
to both the work to be performed and the manner and method of performance.  H. Exercise
Date shall mean the date on which the option shall have been
exercised in accordance with Paragraph 9 of the Agreement.  I. Exercise
Price shall mean the exercise price payable per Option Share as
specified in the Grant Notice.  J. Expiration
Date shall mean the date on which the option expires as
specified in the Grant Notice.  K. Exercise
Notice shall mean the notice substantially in the form of Exhibit A
hereto.  L. Fair
Market Value per share of Common Stock on any relevant date
shall be determined in accordance with the following provisions:  (i)If
the Common Stock is at the time traded on the Nasdaq Global Market, then the
Fair Market Value shall be the closing selling price per share of Common Stock
on the date in question, as the price is reported by the National Association
of Securities  A-1


Dealers
on the Nasdaq Global Market or any successor system. If there is no closing
selling price for the Common Stock on the date in question, then the Fair
Market Value shall be the closing selling price on the last preceding date for
which such quotation exists.  (ii)If
the Common Stock is at the time listed on any stock exchange, then the Fair
Market Value shall be the closing selling price per share of Common Stock on
the date in question on the stock exchange determined by the Plan Administrator
to be the primary market for the Common Stock, as such price is officially
quoted in the composite tape of transactions on such exchange. If there is no
closing selling price for the Common Stock on the date in question, then the
Fair Market Value shall be the closing selling price on the last preceding date
for which such quotation exists.  (iii)If
the Common Stock is at the time neither listed on any stock exchange nor traded
on the Nasdaq Global Market, then the Fair Market Value shall be determined by
the Plan Administrator after taking into account such factors as the Plan
Administrator shall deem appropriate.  M. Grant
Date shall mean the date of grant of the option as specified in
the Grant Notice.  N. Grant
Notice shall mean the Notice of Grant of Stock Option
accompanying the Agreement, pursuant to which Optionee has been informed of the
basic terms of the option evidenced hereby.  O. 1934 Act
shall mean the Securities Exchange Act of 1934, as amended.  P. Option
Shares shall mean the number of shares of Common Stock subject
to the option.  Q. Optionee
shall mean the person to whom the option is granted as specified in the Grant
Notice.  R. Parent
shall mean any corporation (other than the Corporation) in an unbroken chain of
corporations ending with the Corporation, provided each corporation in the
unbroken chain (other than the Corporation) owns, at the time of the
determination, stock possessing fifty percent (50%) or more of the total
combined voting power of all classes of stock in one of the other corporations
in such chain.  S. Plan
shall mean the Corporations 1997 Stock Option/Stock Issuance Plan.  T. Plan
Administrator shall mean either the Board or a committee of the
Board acting in its capacity as administrator of the Plan.  U. Service
shall mean the Optionees performance of services for the Corporation (or any
Parent or Subsidiary) in the capacity of an Employee, a non-employee member of
the board of directors or an independent consultant.  V. Subsidiary
shall mean any corporation (other than the Corporation) in an unbroken chain of
corporations beginning with the Corporation, provided each corporation (other
than the last corporation) in the unbroken chain owns, at the time of the
determination, stock possessing  A-2


fifty percent (50%) or more of the total combined voting power of all
classes of stock in one of  the other
corporations in such chain. A-3


Exhibit A  EXERCISE
NOTICE  The
undersigned, pursuant to the provisions set forth in his/her Notice of Grant of
Stock Option dated May 2, 2007 (the Option), hereby elects to exercise
the Option to purchase
                
Option Shares. The aggregate Exercise Price is being paid as follows (check
one):  o
  
  In cash, cheque or wire transfero
  
  By promissory note*o
  
  By delivery of shares of Common Stock of
  the Corporation already held by the undersigned*o
  
  Through the special sale and remittance
  program in accordance with Section 9(a)(ii)(D) of the Stock Option
  Agreement  
 *
Prior consent of the Corporation must be received to pay the Exercise Price in
this manner (which consent is at the sole
discretion of the Corporation).  Signature:Name:Date: