According to TV Nova’s CEO Petr Dvorak, ad prices will increase by 20% next year. This is partly a consequence of the trend of declining number of viewers, which TV Nova together with other TV stations noticed over the 1H2007, when number of viewers declined by up to 9% as well as increasing cost for the production according to Dvorak. Our view: We see the news broadly in line with the expectation, when we believe TV Nova will be able to slightly increase its ad market share and the overall ad market is expected to grow by 18% y/y.