CME


More high level management departures at CME

CME’s CFO and strategy boss are leaving the central and eastern Europe-focused broadcast group. The news comes in the same week that the Time Warner-backed firm said the general director of its largest single business unit, TV Nova, was stepping down. Company CFO David Sach will exit at the end of the month. David Sturgeon, […]

Sarbu plans new content business backed by CME investment

The president and CEO of Central European Media Enterprises (CME), Adrian Sarbu, has resigned after nearly two decades at the company to set up a content business that CME plans to invest in. In a filing with the Securities and Exchange Commission yesterday, CME said that Sarbu intends to develop the content business next year […]

CME hit by low Czech revenues

Broadcast group Central European Media Enterprises (CME) reported a 14.7% year-on-year drop in revenues and swung to a net loss of US$41 million in the second quarter after a poor performance in the Czech Republic. Revenues for the three months ending June 30 were US$180 million, down from US$211 million for the same period last […]

Formats to see in CEE

As NATPE Budapest gets underway, TBI speaks to the main players about selling formats into Central and Eastern Europe, breaking into emerging local territories and the booming market in constructed reality series Traditionally, the biggest buyers of formats in the CEE region have been Russia, Poland and Ukraine and while this triumvirate remain fertile ground […]

Time Warner buys US$200m CME shares

Broadcast group Central European Media Enterprises (CME) has sold 200,000 shares in the company to stakeholder Time Warner Media Holdings for US$200 million. CME said the sale of the Series B convertible redeemable preferred stock, along with US$100 million of proceeds from a public share offering that was completed in May, would be used to […]

Banijay’s Opposite Worlds travels the globe

Banijay has sold its reality format Opposite Worlds into Turkey, Croatia and the Middle East and is setting up a production hub for further new versions of the show. The series has twenty contestants taking part in an elimination competition whereby they live in one of two worlds: the past, in which there is a […]

CME’s examines finance options as losses deepen

Broadcast group Central European Media Enterprises (CME) saw its fourth-quarter net losses deepen as the weakness of the advertising market in central and eastern Europe continued to take its toll. CME ended the year with cash and near-cash reserves of US$140.4 million. The broadcaster said that it was exploring options to improve its liquidity position, […]

Analysts gloomy on outlook for CME

Influential credit ratings agency Moody’s says that the outlook for Time Warner-backed CME is challenging as the advertising market will remain tough in 2013 and the impact of fixed programming costs is felt. The Central and Eastern European broadcast group, which is 49.9% owned by Time Warner, downgraded its full-year forecasts following its recent disappointing […]

Jeff Sagansky and Harry Sloan firm buys $400m in-flight business

Global Eagle, the media investment company run by Harry Sloane and Jeff Sagansky, has bought two in-flight entertainment businesses for $430 million. It has inked a deal for Row 44 and Frankfurt-listed Advanced Inflight Alliance (AIA) with the aim of creating the world’s largest in-flight entertainment operation. AIA supplies TV and movies as well as […]

CME hires new boss for VOD service Voyo

Central and Eastern European broadcaster Central European Media Enterprises (CME) has made a number of senior appointments including a new boss for its video-on-demand service Voyo. The company has promoted Constantin Mocanu to senior vice president and head of Voyo. Mocanu was previously general director of Pro TV, its Romanian broadcaster. As part of the […]