State Property Fund of Ukraine has decided to sell state-owned controlling stake (50.01 percent), Odessa Film Studio . The cost of state-owned stake now stands at 31.085 million hryvnia (about 120 million rubles). Two years ago, a proposal to sell the Odessa Film Studio LLC New Studio ", which had already owned 49.99 percent of shares, was rejected by the SPF. The reason was the failure of investment obligations, under which the company received the first package. JSC "thumbnail" was created in late 2005. The State as a contribution to charter capital transferred the property complex of the former SOEs, manager Studios, and "New Studio" has invested 31.1 million hryvnia. In 2008, net loss amounted to 8.54 million studio hryvnia, up 78 percent compared with the previous year. In the first nine months of 2009, losses amounted to 5.1 million hryvnia.