News Corp exits CEE

By Chris Dziadul
Published: March 12, 2010 07.57 Europe/London

News Corp has finally left the Central and East European region by selling its stakes in the Latvian TV stations LNT and TV5. According to Aripaev, their management team has bought 100% of LNT and 70% of TV5 for an unspecified fee.

News Corp has been present in Latvia since 2007, when it acquired both stations (LNT is the most popular broadcaster in the country) through subsidiaries.

It has already exited Serbia, Poland and most recently Bulgaria, where CME last month agreed to buy its assets, which include the national commercial station bTV, for $400 million (€292.9 million) in cash.

Filed Under: Central & East Europe, Finance, Newsline, Top Story

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