CME begins recovery
May 6, 2010
Central European Media Enterprises (CME) had revenues of $143.641 million for the first quarter, an increase of 5 per cent on the period in 2009. The net loss eased by 5 per cent to $42.294 million.
Adrian Sarbu, president and CEO of CME, said: “We have rebuilt CME as a vertically integrated media and entertainment company to better face the challenges in our industry. Demand for TV advertising continued to decline in the first quarter although at a slower pace. Central and Eastern Europe will gradually emerge from the crisis during the first half of 2010 and in the second half the demand for TV advertising is expected to show single digit growth. As recovery progresses we will convert our leading audience and market shares into strong revenues and operating margins.”