Time Warner Investment In CME Closes
NEW YORK (AP) Time Warner Inc. on Monday announced the closure of its $241.5 million investment in Central European Media Enterprises Ltd., the Bermuda-based broadcast company founded by cosmetics billionaire Ronald Lauder.
Time Warner now has a 31 percent stake in CME, which operates in Bulgaria, Croatia, the Czech Republic, Romania, Slovakia, Slovenia and Ukraine. The deal allows Lauder to vote Time Warner's shares of CME for at least four years with some exceptions. Lauder has agreed to support two of the company's nominees to CME's board. Time Warner shares rose 97 cents, or 4.1 percent, to $24.49 in morning trading.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
Connect with TheStreet
 |
 |
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,388.90 | 1,105.98 | 2,194.35 | 34.83 |
Oil *
77.74
|
|
UP
22.75
|
UP
6.06
|
UP
21.21
|
UP
1.03
|
10 Yr
3.48%
SPDR Gold
113.75
|
|
+0.22%
|
+0.55%
|
+0.98%
|
+3.05%
|
Data delayed 20 minutes |
