Slovak media sector regulator has extended TV Markiza’s broadcasting license agreement for 12 additional years. The prolongation is effective as of 2007, when the current license expires. TV Markiza submitted new partnership agreement as regulator objected weak Slovak representation in the company. As the license is commonly extended without bigger problems, we see this news as neutral and reiterate our Buy recommendation for CME. Note that we have increased our target price to USD 73 yesterday.