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I think I am not the only one saying this but.. WE NEED the Dolby codec back again in Premiere CC 2018.
I work everyday with DVDs and Blu-rays, importing and exporting AC3 2.0/5.1.
Thanks. Before laying out that kind of money, folks may want to first try the other suggestions given above, including using a free transcoder like Handbrake or XMedia Recode to convert their MTS/ACS files.