Owner of the Ukrainian channels 1+1 Studio, Kino and Citi, the U.S. media company Central European Media Enterprises Ltd (CME) announced about a transaction with the Time Warner Inc. Corporation.

As a result, the Time Warner Inc. gets control over 31 percent of the СМЕ, and the СМЕ TV channels - an access to the Warner Bros. film library. The transaction should be completed by the end of Q2 2009.

In addition, the companies agreed on cooperation in launching new thematic channels on the territory of the CME activities, some of them will be launched under the Warner Bros. brand. The channels will be engaged in showing feature films and serials, including from the Warner Bros. film library.

The 1+1 TV channel is the CME's main holding in Ukraine, the 1+1 TV channel has strongly lost ground last year. According to the GfK Ukraine company, the 1+1 TV channel's share in the TV broadcast of Ukraine made up 17.83 percent in February 2008, while by the end of June this index fell behind 13 percent, and in January 2009 - 9.56 percent.


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