Time Warner completes CME acquisition

Time Warner has finalised its acquisition of central and eastern European broadcaster CME.

The US media company has finalised its US$242m (€178m) purchase of a 31% stake in the broadcaster, that operates across the region in Czech Republic, Romania, Bulgaria, Croatia, Slovakia, Slovenia and the Ukraine. Time Warner is expected to pair up with the broadcaster to launch a number of Warner Bros-branded thematic channels in the region that will air a raft of its movies and TV series.