CME purchases increased stake in Studio 1+1

By FNE Staff

    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.