CME ups stake in Studio 1+1 to 90%

Ukraine TV channel central to CME business

MOSCOW -- Central European Media Enterprises has completed the purchase of a 30% interest in Ukraine’s Studio 1+1 TV channel, increasing its holdings in Studio 1+1 to 90%.

“Our objective is now to integrate all of our key Ukraine assets and build Ukraine into our largest business in the CME family," Michael Garin, CME's CEO, commented on the deal in a statement, adding that now “Ukraine represents more than 50% of the total population within the CME footprint.”