Time Warner ups CME stake
By Chris Dziadul

Central European Media Enterprises (CME) has sold around 9.9 million class A shares to Time Warner and 2 million to Ronald S. Lauder for a combined fee of approximately $89 million (70.36 million).

As a result of the deal, Time Warner has increased its ownership in CME to 40% on a diluted basis.

CME has broadcast interests in six Central and East European countries.
They are supported by its content and distribution division, Media Pro Entertainment, as well as its New Media division, which operates the pan-regional VOD service Voyo.