CME to stop acquiring and focus on organic growth

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.

CME’s 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 Bulgaria’s bTVfor US$413m (€326m) last April. It will now concentrate on growing organically in the region, Dvorak said.