You will be redirected back to your article in seconds

CME sees revenues fall 33%

Chief exec says market has reached bottom

Net revenues at Ron Lauder’s Central European Media Enterprises, a broadcaster with operations across Central and Eastern Europe, fell 33% year on year in the quarter ended Sept. 30, the company reported Tuesday.

Revenues dropped to $134.5 million in the third quarter, the fourth consecutive quarter to see a decrease.

But CEO Adrian Sarbu said the worst may be over. “We believe the markets have reached the bottom,” he said. “This is a new starting point. The macroeconomic prospects for 2010 have improved, and we expect advertising spending to follow.”

The company had a net loss of $21.6 million in the quarter compared with a loss of $19.3 million a year earlier.

Flagship station TV Nova in the Czech Republic reported operating income down $40.6 million for the quarter.

CME net revenues for the past nine months were $461.9 million, down 37% year on year.

“Our priority for 2010 is to convert our high audience and market share into higher revenues while managing costs rigorously,” Sarbu added.

More TV

  • 'Seven Seconds' TV show premiere

    Regina King Talks Heaviness of Role in 'Seven Seconds'

    Net revenues at Ron Lauder’s Central European Media Enterprises, a broadcaster with operations across Central and Eastern Europe, fell 33% year on year in the quarter ended Sept. 30, the company reported Tuesday. Revenues dropped to $134.5 million in the third quarter, the fourth consecutive quarter to see a decrease. But CEO Adrian Sarbu said […]

  • John Oliver Lawsuit Dismissed: 'Last Week

    John Oliver Victorious: Coal CEO's Defamation Suit Dismissed

    Net revenues at Ron Lauder’s Central European Media Enterprises, a broadcaster with operations across Central and Eastern Europe, fell 33% year on year in the quarter ended Sept. 30, the company reported Tuesday. Revenues dropped to $134.5 million in the third quarter, the fourth consecutive quarter to see a decrease. But CEO Adrian Sarbu said […]

  • Baz Luhrmann

    Olympic Figure Skating Revives 'Moulin Rouge' and Baz Luhrmann Is Loving It (EXCLUSIVE)

    Net revenues at Ron Lauder’s Central European Media Enterprises, a broadcaster with operations across Central and Eastern Europe, fell 33% year on year in the quarter ended Sept. 30, the company reported Tuesday. Revenues dropped to $134.5 million in the third quarter, the fourth consecutive quarter to see a decrease. But CEO Adrian Sarbu said […]

  • UnReal Athena Film Festival

    How Trump Beating Clinton Impacted the Gender Politics of 'UnReal' Season 3

    Net revenues at Ron Lauder’s Central European Media Enterprises, a broadcaster with operations across Central and Eastern Europe, fell 33% year on year in the quarter ended Sept. 30, the company reported Tuesday. Revenues dropped to $134.5 million in the third quarter, the fourth consecutive quarter to see a decrease. But CEO Adrian Sarbu said […]

  • Nanette Fabray Broadway?s First Lady, Nanette

    Nanette Fabray, TV Star of the '50s and '60s, Dies at 97

    Net revenues at Ron Lauder’s Central European Media Enterprises, a broadcaster with operations across Central and Eastern Europe, fell 33% year on year in the quarter ended Sept. 30, the company reported Tuesday. Revenues dropped to $134.5 million in the third quarter, the fourth consecutive quarter to see a decrease. But CEO Adrian Sarbu said […]

  • AMERICAN IDOL - ABC's "American Idol"

    Macy's, Johnson & Johnson Sign On as Major Sponsors of ABC's 'American Idol' (EXCLUSIVE)

    Net revenues at Ron Lauder’s Central European Media Enterprises, a broadcaster with operations across Central and Eastern Europe, fell 33% year on year in the quarter ended Sept. 30, the company reported Tuesday. Revenues dropped to $134.5 million in the third quarter, the fourth consecutive quarter to see a decrease. But CEO Adrian Sarbu said […]

More From Our Brands

Access exclusive content