Time Warner looks to emerging markets

US media giant Time Warner is looking to acquire broadcasting assets in emerging markets including eastern Europe and Latin America. This follows its acquisition of central and eastern European broadcaster CME last year. Chairman and chief executive Jeff Bewkes told press that the company would not look to acquire free-to-air channels in mature western European markets but would rather focus its attention on channels in these emerging markets.

Time Warner paid US$242m (€180m) last year for a 31% stake in CME, which operates channels in Czech Republic, Romania, Bulgaria, Croatia, Slovakia, Slovenia and Ukraine