HAMILTON, Bermuda, June 30, 2011 (GLOBE NEWSWIRE) -- Central European Media Enterprises Ltd. ("CME") (Nasdaq:CETV) (Prague Stock Exchange:CETV) today closed its previously announced transaction to acquire 100% of the shares of Bontonfilm a.s. ("Bontonfilm") from Bancroft Private Equity, LLP and minority shareholders. Bontonfilm is a film, home entertainment, digital and television rights distribution company with operations in the Czech Republic and Slovak Republic and a leading market position in each country. Total cash consideration was US$11 million and additional cash consideration currently estimated at a maximum of US$1.5 million may be payable to the sellers in December 2011, depending on the OIBDA achieved by Bontonfilm for 2010, the amount of cash and working capital in the business at closing and the satisfaction of certain other indemnification obligations.
CME is a vertically integrated media company operating leading broadcast, content and new media businesses in six Central and Eastern European countries with an aggregate population of approximately 50 million people. CME's television stations are located in Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action and Ring.bg), Croatia (Nova TV, Doma and Nova World), the Czech Republic (TV Nova, Nova Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, PRO Cinema, PRO TV Chisinau, Sport.ro and MTV Romania), the Slovak Republic (TV Markíza and Doma) and Slovenia (POP TV, Kanal A and POP Brio). CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol "CETV".
CONTACT: Romana Wyllie Vice President of Corporate Communications Central European Media Enterprises Ltd. +420 242 465 525