Revs rise, losses double for CME

Earnings Brief

Ron Lauder’s Central European Media Enterprises reported a 148% hike in first-quarter revenues to $119.8 million compared with last year but saw losses more than double to $18.3 million from $7.9 million.

The Bermuda-based operator of TV stations in Croatia, the Czech Republic, Romania, Slovakia, Slovenia and Ukraine attributed the red ink to higher expenses. Operating costs rose to $23 million from $11.3 million while programming costs more than doubled to $48.4 million.

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