HN daily informed about big TV advertisers’ discontent of TV Nova pricing policy. Association of 52 members, including 10 biggest advertisers contacted CME about significant increase in ad prices. TV Nova introduced new model recently with ad pricing increase after several years of stagnation. This might result in 25% price hike in some cases after removing loyalty bonuses but should be less severe for most advertisers. TV Nova proposed new conditions also for clients that have long term contracts. Although this might lead to worse situation in short term, we believe majority of advertisers will eventually buy ad time. We see the change in pricing policy positively in long term and reiterate our Buy recommendation.