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CME, one of the leading commercial TV operators in Central and Eastern Europe, has posted what is probably the worst set of results in its decade and a half history. Net revenues in Q1 amounted to $141.2 million (Euro108.3 million), 37% down on the same period in 2008, while EBITDA was, at $15.5 million, 76% lower. Its net income of $14.5 million in Q1 2008 was transformed into a loss of $44.5 million in the first quarter.

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