Central European Media Enterprises Ltd. (CETV) announced the closing of the sale of approximately 9.9 million shares of the Company's Class A common stock to Time Warner Media Holdings B.V. or "TW", an affiliate of Time Warner Inc., and 2 million shares of Class A common stock to RSL Capital LLC, an affiliate of CME's Non-Executive Chairman, Ronald Lauder, all at a purchase price per share of US$7.51.
The aggregate purchase price from the sales was approximately US$89 million, which has been applied to repay an equivalent amount of principal and accrued interest of the loans drawn under the Term Loan Facilities Credit Agreement between Central European Media, as borrower, and Time Warner Inc., as administrative agent and lender, dated April 30, 2012.
In connection with the closing of these transactions, TW and Lauder have converted all their shares of Class B common stock into shares of Class A common stock on a one-for-one basis for no additional consideration. As a result of the transaction, TW increased its ownership in Central European Media to 40% on a diluted basis.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.