CME has completed the acquisition of the Ukrainian national commercial broadcaster Studio 1+1, securing the 10% of shares it did not already own for $109.1 million (€82.4 million) in cash.
Although CME has interests in six other CEE countries, Ukraine is by far the largest in terms of population (47 million) and the company aims to make Studio 1+1 its leading player.
Operating in a highly fragmented market, Studio 1+1 already claimed an audience share of 12% (14% in primetime) in its target 18+ audience in H1 2008.