Central European Media Enterprises Welcomes $100 Million Investment by Igor Kolomoisky in Ukraine...

100 million and 100% of TET TV to be contributed to CME's Ukraine operationsIgor Kolomoisky to become 49% shareholder of the expanded Studio 1+1 Group HAMILTON, Bermuda, July 2 /PRNewswire-FirstCall/ -- Central European Media Enterprises Ltd. ("CME") (NASDAQ/Prague Stock Exchange: CETV) announced today that it has entered into an agreement with Igor Kolomoisky, a prominent Ukrainian businessman and CME shareholder and Director. Following an injection of $100 million in cash and the contribution of 100% of the TET TV channel into Studio 1+1 Group, Mr. Kolomoisky will become a 49% shareholder in CME's Ukrainian operations. The transaction is expected to close by the end of the third quarter of 2009, subject to receipt of regulatory approvals. The $100 million cash investment will be used to finance the activities of Studio 1+1,... [read full story]                    

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