Kolomoisky, who is a Director of CME, becomes a 49% stakeholder in CME's Ukranian operations in return. The money will go toward CME's Ukraine groups of stations, according to a July 2 statement by CME.
The deal is expected to be finalized by the end of the third quarter, 2009.
CME operates TV stations in seven Central European countries.
The Film New Europe (FNE) Association is the networking platform for film professionals in the CEE/SEE/Baltics region. The webportal and FNE newswire was chosen as the MAIN TOOL to achieve the network’s objectives of the sharing of know how, visibility of regional cultural diversity and finally the VOICE of the region.
FNE’s objectives include VISIBILITY for the region and AUDIENCES for films by providing a special focus on the region.