Time Warner Acquires Bulgaria’s bTV Owner CME

Business | June 18, 2013, Tuesday // 14:04
Bulgaria: Time Warner Acquires Bulgaria’s bTV Owner CME Photo by BGNES

The European Commission has cleared the proposed acquisition of Central European Media Enterprises ("CME"), based in Bermuda, by Time Warner of the United States.

The Commission's investigation confirmed that the proposed transaction will not have negative effects on competition, since the activities of the parties are mainly complementary and not in direct competition with each other.

Along with bTV Media Group in Bulgaria, CME owns TV channels in Czech Republic, Hungary Romania, Slovak Republic and Slovenia.

Time Warner is a US based global media and entertainment company, active worldwide, through a network of subsidiary companies, in film, television and magazine publishing.

During the depths of the crisis in 2009, the U.S. conglomerate bought a minority stake in Central European Media Enterprises, CETV +4.95% a struggling company with TV broadcast and production assets in markets like Romania and the Czech Republic.

Since then, CME's heavy debt load has forced it to sell shares multiple times, with Time Warner eventually getting a 49.9% stake.



We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: TV, advertising, Adrian Sarbu, bTV, Central European Media Enterprises, CME, Ronald Lauder

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria