Time Warner increased stake in CME

Marketing, Media

Time Warner increased its stake in Central European Media Enterprises (CME), a company present in Romania and headed by Adrian Sarbu, the founder of Romanian Media PRO.

According to Hollywood Reporter, Time Warner increased its holding in the Central and Eastern European broadcaster to 34.4%.

In 2009, Time Warner spent $241.5 million to take a stake of 31 percent in CME to step up its game in a region with good growth.

On Wednesday, Time Warner brought another 3.12M shares in CME from a Czech investment group, paying around $60.7M, according to a regulatory filing.