Central European Media Enterprises

Central European Media Enterprises Ltd. (CME) is a media and entertainment company that operates television channels in six geographic areas: Bulgaria, Croatia, Czech Republic, Romania and Moldova, Slovakia, and Slovenia. Until its acquisition by PPF Group N.V. in October 2020, the company was listed on NASDAQ and Prague Stock Exchange under the ticker symbol CETV. It has since been delisted. History Central European Media Enterprises Ltd. was co-founded in 1991 by Americans Ronald Lauder and Mark Palmer in Germany as CEDC GmbH (Central European Development Corporation), and later changed its name and reincorporated in the Netherlands as Central European Media Enterprises (CME). It started broadcasting its first channel in the Czech Republic in 1994. On 23 March 2009, Time Warner (now Warner Bros. Discovery) announced it would invest $241.5 million in CME for a 31% stake. By 2Q 2013, Time Warner had acquired a controlling interest in CME in a series of transactions. In October 2019, AT&T signed an agreement to sell WarnerMedia's stake to PPF. The transaction valued at $2.1 billion was completed in October 2020.