Ukrainian oligarch becomes shareholder in American media company

13:15, 03 September 2007
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Which holds four TV channels in Ukraine

Ukrainian billionaire Igor Kolomoiski bought 3% in Central European Media Entreprises (CME), the media company controlled by the American Ronald Lauder, CME announced. The company owns Romanian leading TV station, according to the Budapest Business Journal.

Central European Media Entreprises is the company that controls leading Romanian TV station Pro TV as well as other major media in Central and Eastern Europe. According to the company, the Ukrainian paid $110 million for the shares and gained his right to be part of the CME board. American owner Lauder said that Kolomoiski understand the importance of media independence as CME holds four TV channels in Ukraine (Studio 1+1, Studio 1+1 International, Kino, Citi).

Kolomoiski, the new CME shareholder is one of the businessmen to control the Ukrainian holding Privat Group (steel, oil, chemical and energy industry, food industry, media and banking). The value of the group amounts to $10 billion and holds companies in Ukraine, Russia, USA and Romania.

In Romania, CME holds PRO TV, Acasa, PRO Cinema, Pro TV International and Sport.ro. In June, CME bought from his Romanian partner, Romanian magnate Adrian Sarbu, 5% of PRO TV International holding 95% of the four posts. Their value amounts to $1 billion.

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