Edition:
India

Central European Media Enterprises Ltd (CETV.OQ)

CETV.OQ on NASDAQ Stock Exchange Global Select Market

4.21USD
23 Sep 2020
Change (% chg)

$-0.03 (-0.71%)
Prev Close
$4.24
Open
$4.24
Day's High
$4.28
Day's Low
$4.17
Volume
134,322
Avg. Vol
183,451
52-wk High
$5.02
52-wk Low
$1.80

Latest Key Developments (Source: Significant Developments)

PPF says does not intend significant changes to broadcaster CME operations after acquisition
Monday, 28 Oct 2019 

Oct 27 (Reuters) - Central European Media Enterprises Ltd ::CZECH INVESTMENT GROUP PPF SAYS CENTRAL EUROPEAN MEDIA ENTERPRISES TRANSACTION SUBJECT TO CUSTOMARY CLOSING CONDITIONS, INCLUDING APPROVAL OF CME SHAREHOLDERS, EUROPEAN COMMISSION, AND NATIONAL REGULATORS IN CERTAIN COUNTRIES.PPF SAYS CME WILL CONVENE AN EXTRAORDINARY MEETING OF SHAREHOLDERS FOR APPROVAL OF THE PROPOSED MERGER.PPF SAYS PARTIES EXPECT THAT THE ENTIRE APPROVAL PROCESS WILL TAKE SEVERAL MONTHS.PPF SAYS CME IS A HEALTHY AND WELL-RUN ORGANIZATION AND WE DO NOT INTEND TO MAKE ANY SIGNIFICANT CHANGES TO ITS OPERATIONS.PPF SAYS ACQUISITION OF CME WITH ITS MEDIA ASSETS IN FIVE EUROPEAN COUNTRIES WILL COMPLEMENT AND FURTHER STRENGTHEN OUR TELECOMMUNICATIONS OPERATIONS IN CENTRAL AND EASTERN EUROPE.PPF SAYS WANTS TO LEVERAGE THE NATURAL SYNERGIES BETWEEN THE CREATION OF CONTENT AND ITS DISTRIBUTION WITH THE OBJECTIVE OF FURTHER DEVELOPING OUR TELECOMMUNICATIONS AND MEDIA BUSINESSES.  Full Article

AT&T Says Agreed To Deal For CME To Be Acquired By Affiliate Of PPF Group
Monday, 28 Oct 2019 

Oct 27 (Reuters) - At&T Inc ::AT&T TO MONETIZE MAJORITY STAKE IN CENTRAL EUROPEAN MEDIA ENTERPRISES.AGREED TO TERMS OF A TRANSACTION IN WHICH CME WILL BE ACQUIRED BY AN AFFILIATE OF CZECH INVESTMENT FIRM PPF GROUP.AT&T WILL RECEIVE ABOUT $1.1 BILLION IN CASH AT CLOSE AND WILL ALSO BE RELIEVED OF A $575 MILLION DEBT GUARANTEE.SHAREHOLDERS SHOULD EXPECT THAT SHARE BUYBACKS WILL BE IN MIX IN Q4 OF 2019, ALONG WITH CONTINUED DE-LEVERING.  Full Article

Central European Media Enterprises Says To Be Acquired By PPF
Monday, 28 Oct 2019 

Oct 27 (Reuters) - Central European Media Enterprises Ltd ::CENTRAL EUROPEAN MEDIA ENTERPRISES TO BE ACQUIRED BY PPF.CENTRAL EUROPEAN MEDIA ENTERPRISES - ENTERED INTO DEFINITIVE AGREEMENT TO BE ACQUIRED BY AFFILIATE OF PPF GROUP IN CASH DEAL VALUED AT ABOUT $ 2.1 BILLION.CENTRAL EUROPEAN MEDIA ENTERPRISES- HOLDERS OF ALL OF CME'S ISSUED AND OUTSTANDING CLASS A COMMON SHARES WILL RECEIVE US$ 4.58 PER SHARE.AGREEMENT HAS BEEN APPROVED UNANIMOUSLY BY CME'S BOARD OF DIRECTORS.CENTRAL EUROPEAN MEDIA ENTERPRISES - COMPANY IS BEING ADVISED BY ALLEN & COMPANY LLC AND BANK OF AMERICA MERRILL LYNCH AS ITS FINANCIAL ADVISORS.CME'S LARGEST SHAREHOLDER, AT&T INC., HAS AGREED TO VOTE IN FAVOR OF TRANSACTION.  Full Article

Broadcaster CME Says Net Leverage Ratio Declined To 2.6X
Tuesday, 23 Jul 2019 

July 23 (Reuters) - Central European Media Enterprises Ltd ::BROADCASTER CME SAYS NET LEVERAGE RATIO DECLINED TO 2.6X AT END OF JUNE.CME SAYS REPAID A TOTAL OF EUR 100 MILLION OF DEBT IN THE FIRST HALF OF 2019 USING CASH GENERATED BY THE BUSINESS.  Full Article

Central European Media Enterprises Q2 Income From Continuing Operations Was $0.12 Per Share
Tuesday, 23 Jul 2019 

July 23 (Reuters) - Central European Media Enterprises Ltd ::REPORTS RESULTS FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2019.Q2 NET REVENUES INCREASED 1% AT ACTUAL RATES AND 8% AT CONSTANT RATES TO US$ 183.6 MILLION.Q2 INCOME FROM CONTINUING OPERATIONS WAS $0.12 PER SHARE.QTRLY OIBDA INCREASED 21% AT ACTUAL RATES AND 29% AT CONSTANT RATES TO US$ 73.3 MILLION.Q2 AVERAGE REVENUE WAS SEEN 1.8% HIGHER AT $185.2 MILLION - REUTERS POLL.Q2 AVERAGE OIBDA ESTIMATE AT $67.3 MILLION, UP 10.7% - REUTERS POLL.QTRLY OPERATING INCOME INCREASED 21% AT ACTUAL RATES AND 29% AT CONSTANT RATES TO US$ 60.5 MILLION.  Full Article

Broadcaster CME sees OIBDA growth of 10-12 pct in 2019
Wednesday, 6 Feb 2019 

Feb 6 (Reuters) - Central European Media Enterprises Ltd ::BROADCASTER CME EXPECTS ON 5-COUNTRY BASIS OIBDA GROWTH OF 10% - 12% AT CONSTANT EXCHANGE RATES IN 2019 -PRESENTATION.BROADCASTER CME EXPECTS UNLEVERED FREE CASH FLOW GROWTH OF 8% - 10% AT ACTUAL RATES -PRESENTATION.BROADCASTER CME EXPECTS CASH PAID FOR INTEREST AND GUARANTEE FEES IN 2019 EXPECTED TO BE LESS THAN $27 MILLION.BROADCASTER CME SAYS CAPITAL EXPENDITURES EXPECTED TO BE AROUND $25 MILLION IN 2019 -PRESENTATION.BROADCASTER CME SAYS AS PROFITABILITY OF OPERATIONS CONTINUES TO INCREASE, THE RESULTING UPLIFT IN FREE CASH FLOW GENERATION IS EXPECTED TO PROVIDE ALTERNATIVES FOR CAPITAL ALLOCATION BEYOND DELEVERAGING -FILING.BROADCASTER CME SAYS PRODUCTION OF ORIGINAL LOCAL CONTENT REMAINS A KEY PILLAR OF OUR STRATEGY, INCREASED INVESTMENT PARTIALLY OFFSET BY COST SAVINGS -FILING.  Full Article

Broadcaster CME sees OIBDA growth in 2018 at high end of guidance
Thursday, 18 Oct 2018 

Oct 18 (Reuters) - Central European Media Enterprises Ltd ::BROADCASTER CME SAYS EXPECT REVENUES TO GROW AT FASTER PACE THAN COSTS IN 2018 AND NEXT FEW YEARS, LEADING TO CONTINUED OIBDA MARGIN EXPANSION -FILING.BROADCASTER CME SAYS BELIEVES GROWTH IN REAL PRIVATE CONSUMPTION FORECAST FOR 2018 WILL SUPPORT OVERALL GROWTH IN ITS TV ADVERTISING MARKETS -FILING.BROADCASTER CME SAYS ANTICIPATES AMOUNTS OF CASH PAID FOR INCOME TAXES WILL CONTINUE TO INCREASE IN 2018 -FILING.BROADCASTER CME SAYS EXPECTS IN FY 2018 OIBDA GROWTH AT HIGH END OF 14-16 PERCENT AT CONSTANT EXCHANGE RATES (PREVIOUS GUIDANCE 14-16 PERCENT) -PRESENTATION.BROADCASTER CME SAYS EXPECTS IN FY 2018 UNLEVERED FREE CASH FLOW GROWTH AT HIGH END OF 20-25 PERCENT AT ACTUAL RATES (PREVIOUS GUIDANCE 20-25 PERCENT).  Full Article