CME Ukrainian channel '1+1' signed an agreement with JumpTV, international pay internet TV broadcaster for sourcing its signal into the web and making its programming available to 70m strong Ukrainian diaspora.
Our view: We estimate that '1+1' subscritption (at $9.95 per socket) could generate up to 3-5% of station total revenues over the next few years, based on comparison with TVN's ITV project. We view the news as positive. We reiterate our Buy rating for the stock.