Central European Media Enterprises Ltd., a European broadcaster founded by Ronald Lauder, son of the founders of Estele Lauder Inc., on Wednesday said its net revenues in Romania stood at $137.83 million in the first semester, up 50.5% from $91.56 million in the corresponding period a year ago, according to a press release.
According Mediafax, the broadcaster’s EBITDA profit in Romania was up 63.7% on the year to $61.69 million from $37.66 million, CME said in its financial report.
CME reported consolidated net revenues of $528.9 million in the first half of 2008, up 45% from $364.1 million in June 2007, boosted by good results on TV advertising segment and operation growth in Romania and Czech Republic in the second quarter.
On Tuesday, CME said it paid $172 million for an 80% stake in two Bulgarian television channels.
CME acquired the stakes in national channel TV2 and sport cable channel Ring TV from Top Tone Media Holdings, the company said in a statement.
In addition, CME bought a 30% stake in Ukraine’s Studio 1+1 for $219.6 million, thereby raising its interest in the broadcasting group to 90%.
CME, founded and chaired by Lauder, operates stations in six countries in central and eastern Europe.
The company’s TV stations are located in Croatia (Nova TV), Czech Republic (TV Nova, Nova Cinema, Galaxie Sport ), Romania (PRO TV, PRO TV International, Acasa, PRO Cinema, Sport.ro and MTV Romania), Slovakia (TV Markiza, Galaxie Sport ), Slovenia (POP TV, Kanal A) and Ukraine (Studio 1+1, Studio 1+1 International, Kino, Citi).