Bermuda-based company buys Croatian TV station
Friday, July 9, 2004
ZAGREB, Croatia (AFP): The Bermuda-based
television broadcasting company Central European Media Enterprises (CME)
bought on Thursday Croatia's first commercial television station Nova TV for
29.7 million dollars. "The contract has been
signed and we just have to work out some details," Radovan Klaic, a CME
representative in Croatia, told the HINA news agency.
"With the acquisition of Nova TV we have delivered on another key element of
our expansion strategy," CME's chief executive officer Michael Garin said in a
statement published on the group's website.
CME, launched in 1994, owns three television stations in Romania, two in
Slovenia as well as one each in Slovakia and Ukraine.
The group has subsidiaries in the Netherlands, London and in each operating
country, and it is estimated that its programmes have some 70 million viewers.
Croatia has four national television broadcasters. Two of them -- HTV 1 and
HTV 2 -- are state-owned, while the remaining two -- RTL and Nova TV -- are
private. Nova TV was launched in November
2000 and RTL earlier this year. According to
the CME, in 2003 Nova's TV achieved an all-day average viewing share of around
25 percent. In 2003, Nova TV reported some 26
million dollars in revenues while the former Yugoslav Republic's net
television advertising market was estimated at 99 million dollars.
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