Time Warner to invest 240 million USD in central and eastern Europe

23-03-2009

The US media giant Time Warner will acquire a 31-percent stake in CME, a media corporation that owns the Czech Republic’s largest commercial station TV Nova, according to a statement issued by CME on Monday. Time Warner will pay over USD 241 million for the share. CME’s founder Ronald Lauder said that the alliance with Time Warner would accelerate CME’s development. Apart from the Nova in the Czech Republic, CME owns TV stations in Slovakia, Bulgaria, Croatia, Slovenia, Rumania and Ukraine.