Sergei Tikhonov said the company would make a final decision on the initial public offering at the end of 2008 and at the beginning of 2009.
If a decision is made, the company intends to offer 20-30% of its stock to investors, Tikhonov said.
At the same time, the company's official did not rule out the possibility that Prof-Media could be sold to a strategic investor.
Prof-Media is the largest private investor in key sectors of the Russian media market. It controls a network of multiplex movie theaters, holds a controlling stake in the Central Partnership film distribution and production company, is a leading producer and distributor of TV programs and films, and runs radio stations in Moscow and St. Petersburg, a TV channel and other assets.
Prof-Media's combined revenue amounted to $480 million in 2007.
