Media corp. makes initial $11 mil payment
PRAGUE — Central European Media Enterprises has completed the buyout of Czech film distrib Bontonfilm.CME confirmed the acquisition of 100% of Bontonfilm shares from Bancroft Private Equity and minority shareholders Thursday. CME paid $11 million, plus up to $1.5 million payable to the sellers in December, depending on performance and other factors. The deal was first revealed in late March (Variety, March 28, 2011). Bontonfilm reps 20th Century Fox, Paramount, Universal and DreamWorks releases in the Czech Republic and Slovakia, as well as running home vid, digital and television rights operations. It is closely allied with pubcaster Czech TV. CME owns terrestrial and cable webs in Bulgaria, Croatia, Czech Republic, Romania, the Slovak Republic and Slovenia. It is also ramping up local production in six Central and Eastern European countries.