The purchase price consists of initial cash consideration of US$11 million to be paid at closing. Additional cash consideration currently estimated at a maximum of US$1.5 million may be payable to the sellers in December 2011. Closing of the transaction, which is subject to the approval of the Antimonopoly Office of the Czech Republic, is expected to occur by the end of the second quarter of 2011.

In 2010 Bontonfilm generated revenues (unaudited) of approximately US$37 million and OIBDA of approximately US$2.6 million.

Local market analysts reacted positively to the news.

Adrian Sarbu, CME President and CEO, said in a statement: "Bontonfilm is an OIBDA positive and cash generative business that will have an immediate accretive impact on CME's bottom line. This acquisition greatly complements our Czech and Slovak broadcasting operations. It will enable us to maximize the value of our own library in both markets and increase third party revenues and OIBDA of Media Pro Entertainment."

CME trades on NASDAQ and Prague Stock Exchange under the symbol CETV.