{"id":4973,"date":"2013-10-30T00:00:00","date_gmt":"2013-10-30T00:00:00","guid":{"rendered":"http:\/\/worldscreen.com\/tveurope\/2013\/10\/30\/cme-posts-loss-cuts-forecasts\/"},"modified":"2013-10-30T00:00:00","modified_gmt":"2013-10-30T00:00:00","slug":"cme-posts-loss-cuts-forecasts","status":"publish","type":"post","link":"https:\/\/worldscreen.com\/tveurope\/2013\/10\/30\/cme-posts-loss-cuts-forecasts\/","title":{"rendered":"CME Posts Loss, Cuts Forecasts"},"content":{"rendered":"

\n\tHAMILTON: Central European Media Enterprises (CME) posted net revenues for the third quarter of $135.8 million, compared to the year-ago period's $140.1 million, with OIBDA for the quarter having gone from a positive $3.5 million in 2012 to a loss of $32.4 million.<\/p>\n

\n\tThe new management at CME called the latest set of financial results "unacceptable."<\/p>\n

\n\tOperating loss for the three months ended September 30 was $45 million compared to the loss of $18.4 million in the same period in 2012. Net loss was $23.3 million compared to the $32.6 million for 2012's Q3.<\/p>\n

\n\tMichael Del Nin, co-CEO, commented: "Christoph and I find this level of performance unacceptable and have directed all of our energy since starting with CME a few weeks ago to addressing the major reasons for these financial results and making changes to improve them going forward."
\n\t 
\n\tChristoph Mainusch, co-CEO, added: "Our leading audience shares give us a strong advantage over our competition, and we intend to capitalize on this by concentrating our efforts on improving the monetization of our audiences. <\/p>\n

\n\tImproving the performance of our Czech operations is the top priority. <\/p>\n

\n\tWe believe that rebuilding our relationships with agencies and clients while protecting price increases achieved during the year is an essential step to improving our competitive position in that market."<\/p>\n

\n\tCME now expects a full-year OIBDA loss of $40 million to $30 million and revenue between $640 million and $650 million. It previously expected 2013 revenue of $700 million to $720 million and positive OIBDA of $50 million to $70 million.<\/span> It also said that it is in talks with Time Warner about a possible capital transaction to secure extra financing.<\/p>\n","protected":false},"excerpt":{"rendered":"

HAMILTON: Central European Media Enterprises (CME) posted net revenues for the third quarter of $135.8 million, compared to the year-ago period's $140.1 million, with OIBDA for the quarter having gone from a positive $3.5 million in 2012 to a loss of $32.4 million. The new management at CME called the latest set of financial results …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-4973","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\nCME Posts Loss, Cuts Forecasts<\/title>\n<meta name=\"description\" content=\"CME Posts Loss, Cuts Forecasts . HAMILTON, October 30: Central European Media Enterprises (CME) posted net revenues for the third quarter of $135.8 million, compared to the year-ago period's $140.1 million, with OIBDA for the quarter having gone from a positive $3.5 million in 2012 to a loss of $32.4 million. . Author - Kristin Brzoznowski\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/worldscreen.com\/tveurope\/2013\/10\/30\/cme-posts-loss-cuts-forecasts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CME Posts Loss, Cuts Forecasts\" \/>\n<meta property=\"og:description\" content=\"CME Posts Loss, Cuts Forecasts . HAMILTON, October 30: Central European Media Enterprises (CME) posted net revenues for the third quarter of $135.8 million, compared to the year-ago period's $140.1 million, with OIBDA for the quarter having gone from a positive $3.5 million in 2012 to a loss of $32.4 million. . Author - Kristin Brzoznowski\" \/>\n<meta property=\"og:url\" content=\"https:\/\/worldscreen.com\/tveurope\/2013\/10\/30\/cme-posts-loss-cuts-forecasts\/\" \/>\n<meta property=\"og:site_name\" content=\"TVEUROPE\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-30T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/worldscreen.com\/wp-content\/uploads\/2016\/05\/logo.jpg\" \/>\n<meta name=\"author\" content=\"World Screen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"World Screen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/worldscreen.com\/tveurope\/2013\/10\/30\/cme-posts-loss-cuts-forecasts\/\",\"url\":\"https:\/\/worldscreen.com\/tveurope\/2013\/10\/30\/cme-posts-loss-cuts-forecasts\/\",\"name\":\"CME Posts Loss, Cuts Forecasts\",\"isPartOf\":{\"@id\":\"https:\/\/worldscreen.com\/tveurope\/#website\"},\"datePublished\":\"2013-10-30T00:00:00+00:00\",\"dateModified\":\"2013-10-30T00:00:00+00:00\",\"author\":{\"@id\":\"https:\/\/worldscreen.com\/tveurope\/#\/schema\/person\/48d5d8caeca98083bf34512b4ce8c4c7\"},\"description\":\"CME Posts Loss, Cuts Forecasts . HAMILTON, October 30: Central European Media Enterprises (CME) posted net revenues for the third quarter of $135.8 million, compared to the year-ago period's $140.1 million, with OIBDA for the quarter having gone from a positive $3.5 million in 2012 to a loss of $32.4 million. . 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