Central European Media Enterprises
A Central and Eastern European television and streaming group operating national channel portfolios and local-content services across seven countries.
Last updated August 26, 2026
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Overview
Central European Media Enterprises (CME) is a television and media-entertainment group focused on Central and Eastern Europe. The company was established by American investors Ronald Lauder and Mark Palmer in 1991, initially under the name Central European Development Corporation, and subsequently reorganized and renamed Central European Media Enterprises. Its first television operation began broadcasting in the Czech Republic in 1994, establishing the model that would define CME: building or acquiring commercially oriented national broadcasters, developing locally relevant programming, and monetizing audiences through advertising, subscriptions, and video-on-demand. CME's operating footprint spans Bulgaria, Croatia, the Czech Republic, Romania, Moldova, Slovakia, and Slovenia. Its principal broadcast brands include TV Nova in the Czech Republic, PRO TV in Romania, bTV in Bulgaria, RTL in Croatia, Markíza in Slovakia, and POP TV in Slovenia. Across these markets, the group operates general-interest channels alongside thematic services devoted to films, entertainment, news, sport, children’s programming, crime, and international distribution. The portfolio has expanded through a combination of organic channel launches, acquisitions, and the extension of leading national brands into specialized digital and linear services. A major strategic pillar is Voyo, CME's subscription and advertising-supported video-on-demand platform. Voyo provides locally produced and acquired programming in the group's markets and has increasingly been used as a destination for exclusive programming. Since 2021, the Voyo Originals label has supported series and films released specifically for the platform, complementing CME's traditional free-to-air and pay-television activities. The company also develops and produces content for its own channels, allowing it to reuse successful formats and productions across broadcast, catch-up, and streaming environments. CME's ownership changed substantially during the 2000s and 2010s. Time Warner invested in the company in 2009 and built a controlling position by 2013. After AT&T acquired Time Warner, WarnerMedia agreed in 2019 to sell its CME stake to PPF Group. That transaction closed in October 2020, after which CME was delisted from NASDAQ and the Prague Stock Exchange. The change moved CME from a publicly traded media company into the PPF corporate group while preserving its regional broadcasting strategy. The group has continued to broaden its capabilities through acquisitions and organizational initiatives. In 2022 it agreed to acquire RTL Hrvatska, strengthening its Croatian presence with RTL's national and thematic channels. CME also launched the CME Content Academy to train aspiring television professionals in production disciplines across several of its operating markets. In 2023 it introduced CME Cares, an ESG framework covering socially responsible content, sustainable production, community support, and transparency. By 2025, the company was preparing to combine Voyo with O2 TV in the Czech Republic under the Oneplay brand, reflecting a broader shift toward integrated connectivity, television, and streaming propositions. CME therefore combines national broadcast leadership with regional content production and digital distribution rather than operating as a single uniform consumer-facing channel brand.
History
Central European Media Enterprises was created in 1991 by Ronald Lauder and Mark Palmer in Germany as the Central European Development Corporation. The venture was designed to establish commercially viable television operations in post-communist Central and Eastern Europe. It later adopted the CME name and was reincorporated in the Netherlands. The first major broadcasting milestone came in 1994, when the company launched its initial Czech television channel, creating the foundation for a regional strategy based on strong national brands and locally produced programming. CME expanded across the region by creating, acquiring, or investing in broadcasters in multiple countries. Its portfolio eventually included operations in Bulgaria, Croatia, the Czech Republic, Romania, Moldova, Slovakia, and Slovenia. The group generally organized its activities around well-known national networks, supplemented by thematic channels and international feeds. This structure enabled CME to sell advertising at scale while retaining programming adapted to individual languages and viewing habits. It also provided a platform for producing local entertainment, news, sports, and scripted content. Ownership and financing became important aspects of the company's history. In March 2009, Time Warner announced a $241.5 million investment in CME for a 31 percent stake. Through additional transactions, Time Warner had obtained control of the company by the second quarter of 2013. During this period CME continued to operate as a publicly traded regional media company, with shares listed on NASDAQ and the Prague Stock Exchange under the CETV symbol. CME pursued further market expansion through acquisitions. In 2010 it agreed to acquire bTV, Bulgaria's first national private television station, from News Corporation. In Croatia, the company later strengthened its position through the acquisition of RTL Hrvatska. Announced in February 2022 and completed on 1 June 2022, the RTL transaction added a major Croatian channel family and related thematic services to CME's portfolio. A second major ownership transition followed the creation of WarnerMedia within AT&T. In October 2019, AT&T agreed to sell WarnerMedia's CME interest to PPF Group. The transaction, valued at approximately $2.1 billion, closed in October 2020. CME was then delisted from NASDAQ and the Prague Stock Exchange and became part of PPF's privately held investment structure. In the 2020s, CME increasingly emphasized digital distribution and content production alongside conventional broadcasting. Its Voyo service operates as a regional on-demand platform, and from 2021 the Voyo Originals label released exclusive local series and films. The company also established the CME Content Academy in 2022, offering practical training in television production across locations associated with TV Nova, POP TV, PRO TV, bTV, RTL, and TV Markíza. In 2023, CME introduced CME Cares as an ESG framework addressing social impact, responsible programming, sustainable production, community assistance, and transparency. In February 2025, CME announced that Voyo and O2 TV would be combined in the Czech Republic under the Oneplay brand, illustrating its continuing movement toward integrated digital and pay-TV distribution.
- 2023
CME Cares introduced
[1]The company launched an ESG and social-impact framework covering content, production, communities, and governance.
- 2022
RTL Hrvatska joins CME
[1]CME completed the acquisition of RTL Hrvatska from RTL Group.
- 2020
PPF acquisition closes
[1]PPF Group completed its acquisition of CME, which was subsequently delisted from its public exchanges.
- 2013
Time Warner gains control
[1]Time Warner became CME's controlling shareholder after a series of transactions.
- 2010
bTV acquisition agreed
[1]CME agreed to buy Bulgaria's bTV from News Corporation.
- 2009
Time Warner takes a major stake
[1]Time Warner announced a $241.5 million investment for a 31 percent interest in CME.
- 1994
First Czech television channel begins broadcasting
[1]CME began its broadcasting activities in the Czech Republic, establishing the basis for its regional television model.
- 1991
Company founded as Central European Development Corporation
[1]Ronald Lauder and Mark Palmer established the venture in Germany, initially using the Central European Development Corporation name.
Products and positioning
A leading multi-market Central and Eastern European television group combining national broadcast brands, local content production, thematic channels, advertising sales, and streaming distribution.
Broadcast television
National television channel portfolios
CME operates national television brands and related thematic channels in seven European markets. The portfolio includes general-interest networks such as TV Nova, PRO TV, bTV, RTL, Markíza, and POP TV, supported by services focused on movies, entertainment, news, sports, children’s programming, crime, and lifestyle. These channels are primarily monetized through advertising, distribution agreements, and the reuse of internally developed content.
Video-on-demand
Voyo
Voyo is CME's on-demand platform offering local and international programming through subscription and advertising-supported distribution. It operates across CME's geographic regions and is positioned as a digital extension of the group's broadcast brands. The platform carries catch-up content and exclusive productions, including programs released under the Voyo Originals label from 2021 onward.
Original programming · 2021
Voyo Originals
Voyo Originals is the exclusive-content label used for selected series and feature films produced or commissioned for Voyo. The slate includes locally oriented scripted entertainment, including crime and comedy formats, and supports CME's strategy of differentiating its streaming service from conventional linear television.
Media education and talent development · 2022
CME Content Academy
The CME Content Academy is a practical training program intended to prepare participants for television and film production. Its curriculum covers multiple production disciplines and is delivered across locations in CME's operating markets, using production practices associated with the group's major television networks.
Marketing campaigns
- 2023CME Cares
Bulgaria · Croatia · Czech Republic · Romania · Moldova · Slovakia · Slovenia
CME introduced CME Cares as a group-wide ESG initiative communicating its efforts in responsible content, sustainable production, community assistance, and transparent business conduct.
Outcome. The initiative became the umbrella for CME's stated social, environmental, and governance activities.
Brand decisions
2025
Combine Voyo and O2 TV as OneplayStrategyBackground
CME was moving toward a more integrated Czech television and streaming proposition.
Action taken
The company announced plans to merge Voyo with O2 TV in the Czech market under the Oneplay brand.
Aftermath
The announced combination was intended to consolidate the two services under a single consumer-facing proposition.
2022
Acquire RTL HrvatskaM&ABackground
CME sought to deepen its Croatian television presence and add RTL's national and thematic services.
Action taken
CME agreed to purchase RTL Hrvatska from RTL Group; completion occurred on 1 June 2022.
Aftermath
RTL Hrvatska became part of CME's Croatian operations.
Acquisition price. €50 million (Agreement announced February 2022; completed June 2022)
2020
Sell CME to PPF GroupM&ABackground
AT&T sought to dispose of WarnerMedia's holding in CME following its ownership of Time Warner.
Action taken
WarnerMedia's CME stake was sold to PPF Group in a transaction announced in 2019 and completed in October 2020.
Aftermath
CME became part of PPF and was delisted from NASDAQ and the Prague Stock Exchange.
Transaction value. $2.1 billion (2019 agreement; completed October 2020)
2010
Acquire bTVM&ABackground
CME pursued expansion in Bulgaria through the acquisition of the country's first national private television station.
Action taken
CME agreed to acquire bTV from News Corporation for $400 million.
Aftermath
The acquisition added a major Bulgarian national broadcaster and related channels to CME's regional portfolio.
Acquisition value. $400 million (2010)
2009
Accept Time Warner investmentM&ABackground
CME sought capital and a strategic relationship while continuing to develop its regional television operations.
Action taken
Time Warner invested $241.5 million for a 31 percent stake.
Aftermath
Time Warner later increased its position and had gained control of CME by the second quarter of 2013.
Investment amount. $241.5 million (2009)
Recent events
CME agrees to acquisition by PPF affiliate[2]
Reported:
Central European Media Enterprises said it agreed to be acquired by an affiliate of Czech investment group PPF in a cash deal valued at about $2.1 billion. AT&T, CME’s largest shareholder, agreed to vote in favor of the transaction.
PPF affiliate to acquire Central European Media Enterprises[3]
Reported:
Central European Media Enterprises announced a definitive agreement to be acquired by an affiliate of PPF Group in a cash transaction valued at approximately US$2.1 billion. The acquisition was subject to regulatory approvals and customary closing conditions.
Sources5 sources
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