Central European Media Enterprises (CME) has a cash war chest of between $300-400 million (€224.8-299.8 million) that it may use for further TV station acquisitions in the CEE region.
Quoted in an agency report, its CEO Adrian Sarbu said: “if there’s an opportunity to acquire a profitable asset, we’d consider that. There are operations for sale, it’s just a matter of price.” Alternately, CME may use the money to buy back its debt.
Sarbu added that CME also expects its Bulgarian operations, which have been significantly increased with the recent acquisition of bTV and associated interests, to become profitable in EBITDA terms in Q4 this year.
CME in addition expects to eventually account for over 40% of the audience share and between 50-60% of the TV ad market in Bulgaria.
