CME (1 913 CZK, 3,07%) has secured a 60% ownership in Studio 1+1 by completing the registration of a 42% direct ownership interest in Studio 1+1 LLC via a Ukrainian subsidiary company. Studio 1+1 LLC is the license company of the Studio 1+1 Group. With its existing 18% indirect ownership, CME now has secured control over the Studio 1+1 broadcasting licenses. Our view: We view the news as neutral. The bottom line is that CME already had an economic interest of 60% in its Ukrainian operation, including ‘Studio 1 + 1’, ‘Citi’ and ‘Kino’ TV channels, prior to today’s announcement.