CME Media Enterprises B.V. S-3 Shelf registration

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Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

				Fiscal Years Ended December 31,
	2013			2012			2011			2010			2009
Income from continuing operations	$	(281,533	)	$	(546,393	)	$	(179,604	)	$	(116,924	)	$	(70,983	)
Add back:
Income tax		(17,025	)		(14,139	)		3,850			5,025			4,737
Fixed charges		116,755			133,220			139,453			132,106			109,156
Earnings	$	(181,803	)	$	(427,312	)	$	(36,301	)	$	20,207		$	42,910
Interest expense		100,480			107,670			111,948			101,201			77,272
Amortization of debt issuance costs		4,101			14,101			6,226			5,706			9,565
Amortization of debt discounts/(premium)		7,288			5,999			17,379			21,299			19,519
Assumed interest component of rent expense(1)		4,886			5,450			3,900			3,900			2,800
Fixed charges	$	116,755		$	133,220		$	139,453		$	132,106		$	109,156
Ratio of Earnings to Fixed Charges		(1.56	)		(3.21	)		(0.26	)		0.15			0.39
Dollar deficiency	$	298,558		$	560,532		$	175,754		$	111,899		$	66,246

(1)

Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs.

COMPUTATION OF PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES

	Fiscal Year Ended December 31, 2013
	Actual			Adjustment			As adjusted
Income from continuing operations	$	(281,533	)	$	(7,730	)	$	(289,263	)
Add back:
Income tax		(17,025	)		—			(17,025	)
Fixed charges		116,755			7,370			124,485
Earnings	$	(181,803	)		—		$	(181,803	)
Interest expense		100,480			8,783	(1)		109,263
Amortization of debt issuance costs	$	4,101			(2,125)	(2)		1,976
Amortization of debt discounts/(premium)		7,288			1,072	(3)		8,360
Rentals at computed interest factor(4)		4,886			—			4,886
Fixed charges	$	116,755		$	7,730		$	124,485
Ratio of Earnings to Fixed Charges		(1.56	)					(1.46	)
Dollar deficiency	$	298,558					$	306,288

(1)

Amount comprised of $4,114 thousand of estimated net increase in interest expense resulting from the redemption of the 2016 Fixed Rate Notes and the issuance of the New Notes, and $4,669 thousand of interest related to the $30.0 million Time Warner Term Loan.

(2)

Amount represents the amortization of debt issuance costs related to the 2016 Fixed Rate Notes recorded in the fiscal year ended December 31, 2013.

(3)

Amount represents the amortization of debt premium related to the 2016 Fixed Rate Notes recorded in the fiscal year ended December 31, 2013.

(4)

Amount represents those portions of rent expense (one-third) that are reasonable approximations of interest costs.

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Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
COMPUTATION OF PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES