PRAGUE — CME has filed for bankruptcy proceedings against Nova TV license holder CET-21 in Prague’s regional commercial court.
The new charge is one of many legal procedures in the year-long dispute between CME and Vladimir Zelezny (majority owner of the station’s license) over control of Nova TV.
CME filed after making a formal request for the return of $4.5 million given as advance payments for programming purchases. CME advanced the money between November 1998 and May 1999 for program acquisitions for Nova.
Dispute over claims
CME claims the programming rights were never transferred to it, a charge Nova disputes.
A Nova spokesman dismissed CME’s action as “a media play.”
Nova further responded that the filing was insignificant, since at least two creditors must bring a claim against a company in order to begin proceedings.
However, CME noted that there are other creditors who could also file, including the Czech financial authorities. Nova was recently hit with a charge of $27 million in unpaid back taxes.