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Central European Media Enterprises Appoints Adrian Sarbu as Head of its Third Operating Group
February 23, 2006, Hamilton, Bermuda
Central European Media Enterprises Ltd. (“CME”) (Nasdaq/Prague Stock Exchange: CETV) today announced the appointment of Adrian Sarbu, co-owner of CME’s Romanian operations, as head of its third operating group covering Romania, Czech Republic and Slovakia. CME has already seen the benefits of this approach in its Adriatic Region, which has operated under the leadership of Marijan Jurenec for almost a year. This new management structure is designed to improve efficiencies of operations and capture new opportunities in CME’s high-growth markets. By this appointment CME completes the process of its transition from a holding company into one of the world’s fastest growing television operators.
Adrian Sarbu will retain his responsibilities as General Director of CME’s Romanian channels Pro TV, Acasa and Pro Cinema. For the past 10 years Adrian Sarbu has been instrumental in the creation and development of CME’s Romanian assets, which have been cited as an operating model for the company’s other markets. He has served on the Board of TV NOVA since its acquisition by CME.
CME’s assets in the Ukraine will continue being overseen by Marina Williams who will also retain her responsibilities as CME’s Executive Vice-President. Marina Williams has been responsible for managing CME’s interest in Studio 1+1 in the Ukraine since she joined CME in 2004. She has successfully built a professional management team, improved operational and organizational efficiencies and, following the acquisition of regional channels in Ukraine, has started implementation of the company’s multi-channel strategy.
“This is a logical step in the evolution of CME. We have created an organizational structure that places operating decisions into the hands of our most trusted and competent managers,” said Michael Garin, CME’s Chief Executive Officer. “Adrian’s appointment is an acknowledgement of his accomplishments and leadership abilities. In Romania, Adrian is managing the fastest growing business within the CME family and we expect this move will accelerate our growth plans for the Czech market that now contributes half of CME’s revenues and EBITDA.”
This restructuring will also provide CME’s corporate team with additional capacity to pursue new strategic growth opportunities.
Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the expected completion of the transaction, the future performance of the station and our business strategies and commitments. For these statements and all other forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our control and some of which might not even be anticipated. Future events and actual results, affecting our strategic plan as well as our financial position, results of operations and cash flows, could differ materially from those described in or contemplated by the forward-looking statements. Important factors that contribute to such risks include, but are not limited to, the rate of development of advertising markets in countries where we operate, general market and economic conditions in these countries as well as in the United States and Western Europe, the renewals of broadcasting licenses, the ability to acquire programming and the ability to attract audiences, the general regulatory environments where we operate and application of relevant laws and regulations.
CME is a TV broadcasting company with leading networks in six Central and Eastern European countries reaching an aggregate of approximately 82 million people. The Company’s television stations are located in Croatia (Nova TV), Czech Republic (TV Nova, Galaxie Sport), Romania (PRO TV, Acasa, PRO Cinema), Slovakia (Markíza), Slovenia (POP TV, Kanal A) and Ukraine (Studio 1+1). CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol “CETV”.
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
