PPF in talks to take over media company from AT&T

PPF investment group is set to take over CME.

editor: REMIX NEWS
author: aktualne.cz

The CME media company, which brings together 30 TV stations in Central and Eastern Europe, has been on sale for some time. In March, the company announced that it had begun reviewing its strategic options, including the possibility of selling the company. The agreement between CME and PPF could happen within a few days; the only thing that is missing is the owner’s signature. PPF said it will not comment on its investment plans yet.

According to Hospodářské noviny daily, negotiations on the sale were mentioned by CME during a live conference call with investors. It took place on Thursday afternoon, the day when CME published its economic results. Due to the sale of the company, CME has already set up a special committee of independent directors to evaluate the individual sales strategies. All options are possible until the last moment since the transaction has its risks, which PPF has been considering.

In September, website Hlidacipes.org reported that PPF remained the only one of the original three buyers to buy CME. According to the server, the price AT&T is asking for CME is around CZK 47 billion.

CME also announced that its operating profit before depreciation and amortization (OIBDA) increased by 16 percent to USD 41.4 million in the third quarter of this year. In the Czech Republic, the profit rose by nearly 14 percent to USD 17.5 million. Christoph Mainusch, one of CME’s CEOs said that the beginning of the autumn season was very successful. In the third quarter, the company was able to increase its primetime viewership across all the countries in which it operates. The company also increased its market share in television advertising in four countries.


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