Central European Media Enterprises (CETV) reported excellent 4Q07 results easily beating estimates on revenues, EBITDA, and EPS. Revenues and EBITDA grew 40% and 33%, respectively, with all six countries where the company owns TV stations or networks beating my estimate for revenue and five of the six countries beating my estimate for EBITDA. To gain […]
Central European Media Enterprises (CETV), announced very good news yesterday. CETV will purchase the minority interests in its lead station in Ukraine, Studio 1+1. CETV will immediately take its 60% interest to 90% and has a put call option exercisable a year after closing for the remaining 10%. The 30% piece is being purchased for […]
Given the proximity of Central European Media Enterprises (CETV) annual analyst meeting on October 19th to the third quarter earnings report, I figured there would not be much new news or stock reaction to the results. Ooops. As it turns out, CETV reported better than expected results with all six countries where its own TV […]
The CETV analyst meeting that brought me to Bucharest, Romania, wrapped up just before the open of NY trading last Thursday. All is well. The company raised its 2007 guidance as I had expected in the preview of the meeting I posted earlier this week. Revenue guidance is now $795-820 million up from $764-798 million. […]
The column I posted last week providing an overview of Central European Media Enterprises already requires updating. In it I mention that CETV was likely to increase its 60% ownership of Studio 1+1, the #2 TV station in Ukraine, within the next year. As it turns out late last week, the company took a major […]
Since I’ll be spending most of next week in Bucharest, Romania at the annual analyst meeting for Central European Media Enterprises (CETV), I thought an overview of this long-time favorite was in order. CETV is currently the largest position in Northlake client accounts and my personal accounts. CETV is the largest broadcaster in Central and […]
Ukraine held elections for the third time in four years over the weekend. The pro-Western block of parties that originally formed the Orange Revolution were the surprise winners by a slight margin. Former Prime Minster Yulia Tymoshenko’s party produced the upside surprise bringing in over 30% of the vote, possibly coming in first place. With […]
Central European Media Enterprises announced earlier this week that it had gained control of its broadcasting license in Ukraine. This is very good news as license control provides added protection against emerging market political and regulatory risk. CETV now controls its licenses in every country in which it operates (Czech Republic, Slovakia, Slovenia, Croatia, Romania, […]
Central European Media Enterprises (CETV) announced yesterday that it had sold 1.275 million shares at $86 for $110 million to Igor Kolomoisky and given him a seat on the Board of the Directors. Kolomoisky will own 3% of CETV, becoming the third largest shareholder after founder Ronald Lauder and private equity firm Apax Partners which […]
Central European Media Enterprises (CETV) reported second quarter revenues and EBITDA above estimates. However, the composition of the results caused concern among investors leading to a sharp 5.4% decline in the stock on above average volume. I think investors overreacted and remain very bullish on CETV shares. I was adding to positions in some client […]
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