October 27 (SeeNews) - International TV broadcaster Central European Media Enterprises, CME, said on Tuesday its net revenue from operations in southeast Europe fell to $197.96 million (132.94 million euro) in the first nine months of the year, from $294.13 million a year ago.
The Bermuda-registered company operates in four countries in southeast Europe - Romania, Slovenia, Bulgaria and Croatia. It acquired its Bulgarian operations in August 2008.
CME's combined earnings before interest, tax, depreciation and amortisation (EBITDA) from operations in the four countries fell in the first nine months of this year to $7.23 million from $89.60 million in the same period of 2008, the company said in a statement.
Details about CME's revenue and EBITDA follow (in millions of U.S. dollars):
Country |
9-mo'09 Net Rev |
9-mo'08 Net Rev |
9-mo'09 EBITDA |
9-mo'08 EBITDA |
Bulgaria |
2.397 |
462 |
-29.702 |
-3.101 |
Croatia |
31.200 |
38.153 |
-1.362 |
-6.448 |
Romania |
120.622 |
197.119 |
29.196 |
81.785 |
Slovenia |
43.741 |
58.392 |
9.094 |
17.359 |
CME operates six TV channels in Romania - PRO TV, Acasa, PRO Cinema, PRO TV International, SPORT.RO and MTV Romania. It controls the POP TV, Kanal A and TV Pika TV channels in Slovenia, Nova TV in Croatia and PRO BG and Ring TV in Bulgaria. The company also operates in the Czech Republic, Slovakia and Ukraine.
CME said in July it has entered into an agreement to acquire Romanian film production company MediaPro Entertainment for cash and stock. CME agreed to buy the company from MediaPro Mangement and MediaPro BV.
($=0.6715 euro)