Central European Media Enterprises
|Traded as||NASDAQ: CETV
London, United Kingdom CME Media Services Limited
CME Media Enterprises BV Prague, Czech Republic CME Media Services Limited
|Christoph Mainusch & Michael Del Nin, Co-CEOs
David Sturgeon, CFO
|Products||Television broadcasting; content production; New Media|
|Revenue||$606 million (2015)|
|Owner||Time Warner (49.4%)|
Number of employees
|3,100¹ at 31 December 2015|
Central European Media Enterprises (CME) is a Bermudan media and entertainment company operating in Central and Eastern Europe. CME was co-founded by Leonard M Fertig and Ronald Lauder in 1994. The business is managed on a geographical basis, with six operating segments, Bulgaria, Croatia, the Czech Republic, Romania, The Slovak Republic and Slovenia, which are also the main operating countries. The company is listed on NASDAQ and Prague Stock Exchange under the ticker symbol CETV.
CME is the broadcast market leader in every country where it has television stations and reaches the homes of approximately 50 million people. It started life as a single channel in the Czech Republic in 1994. CME operates a total of 36 television channels across its markets as well as portfolio of websites and the video-on-demand service Voyo. Each country also develops and produces content for their television channels and for licensing to third parties.
Two years later on 3 March 2011, Time Warner bought another 3.1 million shares taking its stake in CME up to 34.4% with around 47 percent of voting rights and a total of 22.1 million shares.
In July 2012 CME exercised its put option and Time Warner increased its economic interest in CME to 49.9%.
During the second quarter of 2013, Time Warner maintained its 49.9% voting interest during a public offering of CME Class A Shares, and additionally purchased 200,000 shares of Series B Convertible Redeemable Preferred Stock in a private placement.
During a rights offering and private placement in 2014, Time Warner increased its economic ownership on a diluted basis to approximately 75%.
CME Board of Directors
- "CME Form 10-K filed March 12, 2015" (PDF).
- "CME website". CME website.
- "Time Warner Inc. Completes US$241.5 Million Investment for 31% Interest in Central European Media Enterprises Ltd., A Leading Central & Eastern European Media Company". Central European Media Enterprises. Retrieved 18 May 2009.
- Chamonikolas, Krystof. "CME Rallies as Time Warner Buying Shares Shows ‘Confidence’". Bloomberg. Retrieved 3 March 2011.
- "CME exercises its put option to Time Warner and completes its deleveraging transactions". Central European Media Enterprises. Retrieved 3 July 2012.