Central European Media Enterprises Ltd., incorporated on 1994, together with its subsidiaries and affiliates, invests in, develops and operates national commercial television channels and stations in Central and Eastern Europe. The Company is one of the largest television operations in this regionand has operations in Croatia, the Czech Republic, Romania, the Slovak Republic, Slovenia and Ukraine. In each market in which the Company operates, it has ownership interests both in license companies and in operating companies. The Company generates revenues primarily through its operating companies, which acquire programming for broadcast by the corresponding license company and enter into agreements with advertisers and advertising agencies on behalf of the license company. In Croatia, the Czech Republic, Romania and Ukraine, the license company also acts as an operating company. In July 2007, the Company acquired the remaining 20% minority interest in TV Markiza in the Slovak Republic. In September 2007, the Company secured a 60% ownership in Studio 1+1.