Michael Del Nin

CME sells Nova TV & Pop TV for €230m

CME has agreed to sell its top broadcast operations in Croatia and Slovenia for €230 million (US$262 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 […]

CME posts strong Q3 results

CME’s underlying profits more than doubled year-on-year in Q3, with the European 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 million, compared to US$8.35 million a year […]

CME ‘positioned for growth’, says CEO

CME co-CEO Christoph Mainusch has claimedthe CEE broadcast group is now leaner, fitter and more efficient after a tough period. Time Warner-backed CME has channels across the CEE region and Mainusch and his co-CEO Michael Del Nin were tasked with turning the business around after a period in which it had suffered as region-wide ad […]

CME: ‘turnaround phase behind us’

The co-chief executive of Time Warner-backed Central European Media Enterprises, Michael Del Nin, said the company’s “turnaround phase is now behind us” after reporting another quarter of improving results. CME is 49% backed by Time Warner, which helped to refinance the TV group as it struggled amid a region-wide downturn in TV advertising revenues. Announcing […]

Analysts bullish on CME after Time Warner bailout

Analysts have said the outlook is positive for central and eastern Europe-focused broadcast group CME in the wake of its recent refinancing by Time Warner. Citing “further support” from 49% shareholder Time Warner, credit analyst Moody’s said: “The stable outlook reflects early signs of turnaround in CME’s operating performance with a return to adequate advertising […]

Time Warner taking control at CME

US media giant Time Warner is exerting greater control at Central and Eastern Europe-focussed broadcast group CME, and is set to increase its ownership stake further this month as a series of complex financial transactions play out. Time Warner boss Jeff Bewkes has talked about the “interesting long-term opportunities” at CME and a rights offering […]

Turner’s Zeiler joins CME board

Turner Broadcasting System’s international boss Gerhard Zeiler has joined the board of directors at embattled broadcaster Central European Media Enterprises. Zeiler (pictured) is joining along with Warner Bros. France president Iris Knobloch and Time Warner’s senior VP, international and corporate strategy Doug Shapiro. Furthermore, former Time Warner Cable and HBO executive John K. Billock has […]

Lauder leaves CME after two decades

Ronald Lauder, the founder of Central European Media Enterprises, has resigned from the company’s board. Lauder (left) started CME in 1994 with the launch of TV Nova in the Czech Republic. He has been non-executive chairman of the company for the ensuing twenty years. His departure from the Time-Warner backed Central and Eastern European broadcast […]

Time Warner eyes ‘long-term opportunity’ at besieged CME

The CEO of Time Warner has confirmed he may hand the embattled broadcaster Central European Media Enterprises a loan providing it is “fair” for shareholders. Jeff Bewkes (left) said yesterday: “We think CME has very interesting long-term opportunities. So while there’s no guarantee we will come to an agreement, we’ve been and remain very interested […]

Analysts warn of approaching CME cash crunch

Credit analysts say that CME’s current financial position leaves it at risk of defaulting on debt payments unless new capital from its largest shareholder, Time Warner, or elsewhere is injected into the group. Moody’s says the European broadcast group’s credit rating is under review for downgrade in the wake of new guidance from the company […]