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CME purchases increased stake in Studio 1+1

FNE Staff 2008-07-01

Central European Media Enterprises (CME), which operates 16 TV channels in 6 countries in Central and Eastern Europe reaching 90 million people, announced that it had completed the purchase of 30% minority interest in the Studio 1+ 1 group in the Ukraine. The purchase increased CME's ownership to 90%.

CME paid $219.6 for the purchase. The Ukrainian media council reissued the station's license to reflect the new ownership structure. CME has an option to buy the remaining 10% for a minimum price of $95.4 million.

CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol CETV.

For more information, go to the Press Release section of FNE.

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