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CME ups stakes in two Romanian units to 95%
June 8, 2007, Reuters News
Central European Media Enterprises (CME) has bought additional 5 percent stakes in two Romanian companies for $49.8 million to raise its holdings to 95 percent, CME said.
The Bermuda-based central European TV broadcaster, listed on the U.S. Nasdaq and the Prague bourse, said it had acquired the additional stakes in Romanian units Pro TV and Media Pro International through its wholly-owned subsidiary CME Romania.
In a filing with the U.S. Securities and Exchange Commission CME said it bought the stakes from Rootland, a firm controlled by the chief of its Romanian operations, Adrian Sarbu, who owns the rest of both Pro TV and MPI.
CME operates television networks in six central and Eastern European countries, with a total population of some 90 million people.
For additional information, please contact:
Romana Tomasova
Director of Corporate Communications
Central European Media Enterprises
+44 (0)20 7430 5357
romana.tomasova@cme-net.com
