Video International moves against CME
By Chris Dziadul | March 5, 2009 | 07:13 UK
CME is facing legal action by Russia’s leading sales house Video International (VI) over the early termination of a contract to sell advertising on the Ukrainian national commercial station Studio 1+1.
Kommersant reports that the case is likely to be heard in a court of arbitration in the UK and that CME has set aside $4.9 million (€3.9 million) in compensation though expects to pay less.
The termination of the agreement between the two parties, which has been in place since 1995, was announced by CME last December.