Central European Media Enterprises (CME), that operates Romanian Pro TV and is headed by Adrian Sârbu, expects to get integrated within Time Warner.
“The actual declining trend of advertising markets, along with debts degree, isn’t sustainable for CME on long term and, as a consequence, we’re expecting to be incorporated within Time Warner (that now owns 49.7% of company’s shares). Obtaining funding via Time Warner would reduce the costs for the entire group”, a J&T Banka report, published on CME website, shows.
CME had, in Q3, net revenues of $ 140.1M, down $25.4M compared to the same period in 2011.
According to CME’s report, for the near future, the most likely scenario is that Time Warner would increase its participation within the group from 49.7% to 50%. If CME would issue 5$ shares, Time Warner will increase its participation to 79%.
Despite the difficult economic situation, CME doesn’t want to sell a lot of TVs from the small markets, as some speculated, the document also mentions.
“A sell of TVs on smaller markets, as some speculated, would only help improving temporarily the financial situation and wouldn’t be in line with the European acquisitions plans of its main shareholder, Time Warner”, the report also mentions.
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