Central European Media Enterprises
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|
Number of employees
|2,950¹ at 31 December 2016|
Central European Media Enterprises Ltd. (CME) is a Bermudan media and entertainment company operating in Central and Eastern Europe and owned by AT&T. A precursor to CME, Central European Development Corporation, was co-founded by Ronald Lauder and Mark Palmer in 1991. It was incorporated as CME in the Netherlands in 1991 and reincorporated when it changed its headquarters to Bermuda in 1994. The business is managed on a geographical basis, with continuing operations in four operating segments, Bulgaria, the Czech Republic, Romania and the Slovak Republic, which are also the main operating countries. The company is listed on NASDAQ and Prague Stock Exchange under the ticker symbol CETV.
Founding and reincorporation
Central European Media Enterprises Ltd. was originally incorporated in Germany as CEDC GmbH (Central European Development Corporation) in 1991. That same year it changed its name and reincorporated in the Netherlands as Central European Media Enterprises (CME). Objections brought by the Czech Republic over the legal distinguishing of the two corporations were rejected by the International Court of Arbitration of the International Chamber of Commerce as irrelevant.
CME is the broadcast market leader in every country where it has television stations. It started broadcasting its first channel in the Czech Republic in 1994. CME operates 29 television channels broadcasting to more than 40 million people across its four markets. CME develops and produces content for its television channels, and its content is also consumed through subscription- and advertising-based platforms.
On 23 March 2009, Time Warner (now WarnerMedia) announced that it would invest $241.5 million, for a 31% stake, in CME.
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
- "History of Central European Media Enterprises Ltd. – FundingUniverse". www.fundinguniverse.com. Retrieved 2017-01-23.
- Desai, M. A.; et al. (2004). "Czech Mate: Expropriation and Investor Protection in a Converging World" (PDF). ECGI - Working Paper No. 62/2004. European Corporate Governance Institute: Page 10. – via Semantic Scholar.
- Desai, M. A.; et al. (2004). "Czech Mate: Expropriation and Investor Protection in a Converging World" (PDF). ECGI - Working Paper No. 62/2004. European Corporate Governance Institute: Page 13. – via Semantic Scholar.
- "CME Form 10-K filed February 9, 2016" (PDF).
- "Ronald S. Lauder v. The Czech Republic, UNCITRAL" (PDF). italaw. September 3, 2001. p. 18. Retrieved February 17, 2017.
- "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".
- 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".