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CME's H1 OIBDA from Bulgarian operations rises

CME's H1 OIBDA from Bulgarian operations rises Author: espensorvik. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), July 23 (SeeNews) - International broadcaster Central European Media Enterprises (CME) said on Tuesday its first-half operating income before depreciation and amortization (OIBDA) from operations in Bulgaria rose to $14 million (12.5 million euro) from $8.6 million in the same period last year.

Net revenues from Bulgarian operations fell by 2.2% to $41.9 million in the January-June period, CME said in an unaudited 2019 first-half financial report.

CME's portfolio in Bulgaria comprises TV channels bTV, bTV Cinema, bTV Comedy, bTV Action, bTV Lady and Ring.

CME's total OIBDA which includes operations in Bulgaria, the Czech Republic, Romania, Slovakia and Slovenia, rose by 15.8% year-on-year to $111.4 million in the first half. Total net revenues decreased by 2.5% to $330.1 million in the review period.

Earlier this year, CME announced that it has commenced a process of exploring and evaluating potential strategic alternatives, including a possible sale of part or all of the company.

"The Board of Directors has formed a Special Committee comprising independent directors to lead the process of reviewing the various strategic alternatives available. These may include, among other things, the sale of part or all of the company, a merger with another strategic partner, a recapitalization, or continuing to execute on CME’s long-term business plan," CME said at the time.

($ = 0.89340 euro)