Michael Del Nin

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: turnaround phase now behind us

The co-chief executive of Central European Media Enterprises (CME), Michael Del Nin, said the company’s “turnaround phase is now behind us” after reporting another quarter of improving results. Announcing its third quarter figures, CME said that revenues came in at US$117.3 million – a 5% year-on-year increase at constant like-for-like rates, but down 10.5% compared to […]

CME reports upturn in revenue, operating income

Central European Media Enterprises (CME) reported an upturn in revenues and operating income in Q3, the company’s strongest quarter of the year so far. Announcing its third quarter results, CME reported net revenues of US$140.1 million (€111 million), up 7% compared to last year, while operating income before depreciation and amortisation was US$2.9 million compared […]

CME sale talks “completely untrue” say co-CEOs

Central European Media Enterprises (CME) has dismissed recent reports that investment group PPF is in talks to buy the company or its flagship Czech channel TV Nova.  In an interview with Czech business newspaper Hospodářské noviny, CME co-CEO Michael Del Nin said the company sale speculation was “completely untrue,” and described TV Nova as “the […]

CME plans 1,000-person staff cut, looks to shed ‘non-core’ assets

Central European Media Enterprises (CME) has said that it plans to cut 1,000 members of staff by the end of the year and that it is in the process of reviewing its “non-core businesses,” after posting poor Q3 results. Speaking on the company’s earnings call yesterday, co-CEO Michael Del Nin said that in the last […]

CME management criticises firm’s ‘unacceptable’ performance

The co-chief executive officer of Central European Media Enterprises (CME), Michael Del Nin, has slammed the firm’s Q3 performance as “unacceptable” as its revenues narrowed and it reported an operating loss of US$45 million (€32.7 million). The weak results came as CME warned that if it is unable to secure additional financing, “we will be […]