Financial woes continue for CME

By Chris Dziadul

July 29, 2009

CME has posted disappointing Q2 results for its TV operations in the CEE region.
Its net revenues in the quarter amounted to $186,185,000 (€130,881,164), a 39% reduction on the same period last year.

CME’s EBITDA meanwhile fell by 75% over the same period to $29,665,000, while the operating income was down by 88% year-on-year to $11,703,000.

Although the Czech Republic, where CME’s interests include the national commercial station TV Nova, remained by far its most lucrative market, operating income almost halved year-on-year from $60,788,000 to $31,858,000.

That in Romania fell from $34,467,000 to $11,911,000, while losses were recorded in both Ukraine and Bulgaria.