CME owner Petr Kellner killed in helicopter crash

Petr Kellner, the Czech Republic’s richest man and owner of media group Central European Media Enterprises (CME) has been killed in a helicopter crash in Alaska. Kellner, whose PPF investment vehicle took over CME from previous majority owner AT&T in 2019 in a deal that valued the company at US$2.1 billion, was killed on a […]

CME sees ad revenues drop as COVID-19 impact makes itself felt

Central and eastern European broadcaster Central European Media Enterprises (CME), which is set to be acquired by Czech billionaire Petr Kellner’s PPF Group, saw its TV advertising revenues plummet for the year to date, as the impact of the COVID-19 pandemic made itself felt. TV advertising revenues decreased 21% at actual rates and 17% at […]

AT&T announces sale of CME to Czech investment group

AT&T has agreed to sell broadcaster Central European Media Enterprises (CME) to PPF, an investment group owned by the Czech Republic’s wealthiest man Petr Kellner. The deal is valued at US$2.1 billion, with AT&T to receive approximately US$1.1 billion in cash at close and be relieved of a US$575 million debt guarantee.  CME was inherited […]

Czech PPF last bidder standing for AT&T’s CME

PPF, an investment group owned by the Czech Republic’s wealthiest man Petr Kellner, is closing in on the acquisition of AT&T-owned Central European Media Enterprises (CME).  According to sources cited by Czech news site, the investment group is the last remaining bidder for CME.  CME was inherited by AT&T following its merger with Time […]

CME to explore ‘strategic alternatives’

Central European Media Enterprises (CME) has started a process to “explore and evaluate potential strategic alternatives for the company” in an effort to maximise shareholder value. The company said that these alternatives could include a sale of part or all of the company, a merger with another strategic partner, a recapitalisation, or continuing to execute on […]

Report: CEFC and Penta bid US$2bn for CME

Chinese energy and finance firm CEFC and Eastern European investment group Penta have reportedly submitted a joint bid for Central European Media Enterprises (CME). According to a Reuters report, pricing for the bid has not yet been finalised but could be worth around US$2 billion. CME is part owned by Time Warner and operates 27 […]

CME joins European Media Alliance

Central European Media Enterprises (CME) has joined the European Media Alliance created by ProSiebenSat.1 and others in 2014 to enhance common synergies, create investment opportunities, and facilitate transfer of knowledge. Among the major achievements of the alliance was the creation of the European Broadcaster Exchange, the JV between ProSiebenSat.1, TF1 and Mediaset to provide a […]

CME sells Croatian and Slovenian networks for €230m

CME has agreed to sell its top broadcast operations in Croatia and Slovenia for €230 million, in what it described as a “transformational moment” for the company. Central European Media Enterprises made a deal to sell commercial networks Nova TV in Croatia and Pop TV in Slovenia to United Group subsidiary Slovenia Broadband. The deal was […]

CME reduces Time Warner debt repayments

Time Warner-backed Central European Media Enterprises (CME) has reduced the cost of its borrowing after agreeing a debt repricing deal with the US cable giant. Effective as of the start of this month, CME said it has reduced the fees payable to Time Warner as credit guarantor of the company’s currently outstanding senior term credit facilities. Overall, CME […]

CME posts strong Q3 results

CME’s underlying profits more than doubled year-on-year in Q3, with the broadcast group reporting a rise this year in ad revenues, subscriptions and carriage fees. Announcing its third quarter results, Central European Media Enterprises said that operating income before depreciation and amortisation (OIBDA) came in at US$18.0 million, compared to US$8.35 million a year earlier. […]

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