Romanian company Pro TV, which owns six TV channels in the country, reported revenues of USD 34.3 million in the first quarter of 2011, down 6 percent on the same period last year. The operating profit was USD 3.4 million in first quarter of 2011, compared to USD 4.5 million in the first quarter of 2010, according to the U.S. group CME, shareholder of the Pro TV. The company owns Pro TV, Acasa, Pro Cinema, Pro TV International, Sport.ro and MTV TV channels in Romania.

CME, which owns several television channels in Central and Eastern Europe, announced its first quarter sales of USD 172.7 million compared to USD 143.6 million during the same period last year. Its operating profit was USD 14.2 million, compared to just USD 0.8 million in the first quarter of 2010.

The main shareholder in CME is Time Warner, the largest media group in the world. Romanian Adrian Sarbu (in picture), who set up Pro TV 15 years ago, currently leads CME's operations, being also one of its shareholders.

Irina Popescu, irina.popescu@romania-insider.com