US media firm Time Warner has increased its stake in CEE broadcaster Central European Media Enterprises (CME).
The company has acquired 9.9 million shares of the company’s Class A common stock, which means that its ownership increases to 40% on a diluted basis. Ronald Lauder has also increased his stake with the purchase of 2.2 million shares through his RSL Capital company. Adrian Sarbu, president and CEO of CME, said: “The continued support from our major shareholders during volatile market conditions allows us to proceed with achieving our targets of reducing our leverage and interest costs.”
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