CME Closes $400M Acquisition Of Bulgarian bTV

Besides the $400 million, the deal also includes a payment of $13 million for a working capital adjustment.

bTV group includes television channels bTV, bTV Cinema, bTV Comedy and several radio stations.

"The acquisition of the bTV group is a milestone for CME. We have now reset our business as a vertically integrated media and entertainment operation focused on Central and Eastern Europe. Our region is one of the most dynamic in the world and we look forward to returning to fast growth once our markets recover. Bulgaria will be the sixth country to implement CME's operating model whose success is based on audience leadership and high operating leverage across multichannel television, internet and content," said Adrian Sarbu, president and CEO of CME.

CME is a leading vertically integrated media and entertaining company operating broadcasting, internet and TV content businesses in six Central and Eastern European countries with an aggregate population of approximately 50 million people. CME's television stations are located in Bulgaria (bTV, bTV Cinema, bTV Comedy, Pro.bg and Ring.bg), Croatia (Nova TV), Czech Republic (TV Nova, Nova Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, PRO Cinema, Sport.ro and MTV Romania), Slovakia (TV Markíza, Doma) and Slovenia (POP TV, Kanal A and TV Pika).

CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol "CETV".

Early April, CME announced it closed a transaction to sell 100% of its Ukraine operations, including the Studio 1+1 and Kino channels, to Harley Trading Limited, a company beneficially owned by Igor Kolomoisky, for $300 million.

CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol "CETV".

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