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Time Warner Inc. Completes US$241.5 Million Investment for 31% Interest in Central European Media Enterprises Ltd., A Leading Central & Eastern European Media Company.

Publication: Business Wire
Publication Date: 18-MAY-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
HAMILTON, Bermuda & NEW YORK -- Central European Media Enterprises Ltd. ("CME") (Nasdaq/Prague Stock Exchange: CETV) and Time Warner Inc. ("Time Warner") (NYSE:TWX) today announced that Time Warner's investment in CME, a leading media company in Central and Eastern Europe, has closed. The companies previously announced the signing of the transaction on March 23, 2009.

Time Warner received 19 million newly issued common shares of CME, consisting of 14.5 million shares of Class A...

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