BUDAPEST — U.S. cosmetics magnate Ronald Lauder’s Central European Media Enterprises is reportedly negotiating with SBS’s Hungarian network TV2 for an undisclosed number of shares in the broadcaster.
TV2 officials have denied the reports. Earlier this year SBS said it was looking for a strategic partner in the network, which is locked in stiff competition with its only commercial terrestrial rival, the RTL Media-controlled network RTL Klub.
Although Lauder has made no formal announcement, his family originates in Hungary and he is the former owner of the commercial cable television network TV3. Lauder’s aggressive bid to win the TV2 frequency six years ago failed.