Central European Media Enterprises (CME) is cutting back on acquisitions and moving its focus to organic growth in order to increase its cash flow and lower its debt burden.
CMEs senior vice president for broadcasting Petr Dvorak said the broadcaster would still consider acquisition opportunities but would be very selective. The company has been on an acquisition trail recently, buying broadcasters and internet providers in central and eastern Europe, including BulgariaÂs bTVfor US$413m (Â326m) last April. It will now concentrate on growing organically in the region, Dvorak said.
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21st February 2019