Romania boosts CME group’s operating profit

Central European Media Enterprises (CME), one of the biggest media groups in Central and Eastern Europe (CEE), increased its Operating Income Before Depreciation and Amortization (OIBDA) by a third, in the first nine months of 2016, to USD 88.8 million. The increase was mainly supported by Romania, where the group saw a 75% increase in OIBDA, to USD 45 million. The group’s revenues in Romania went up by about 8% in the first nine months, to USD 118 million while the group’s overall revenues increased by 5%, to USD 430 million, according to CME’s financial report. CME owns Romania’s biggest media group, PRO TV, which includes the biggest TV station in Romania and one of the biggest local online publishers. In the third quarter, CME’s revenues in Romania went up by 16%, to USD 37 million, while the OIBDA increased by more than 16%, to USD 12.6 million. Romania is the group’s second-biggest market, in terms of revenues, after Czech Republic. The two markets combined bring more than a half of the group’s revenues. The group’s other markets are Slovakia, Bulgaria, Croatia, and Slovenia. American telecom group AT&T recently reached an agreement to buy media group Time Warner, CME’s majority shareholder, for some USD 85 billion. If the deal goes through, AT&T may decide to sell its operations in Eastern Europe, according to Romanian media analysts. Pro TV’s turnover accounts for almost half of the Romanian media market editor@romania-insider.com