Media and entertainment group CME increased its net revenues in Romania by 16% in the first nine months of this year compared to the same period of 2013, to USD 157 million, the group announced on Thursday.

The group’s operational profit (OIBDA - operating income /loss before depreciation, amortization of intangible assets and impairments of assets) in Romania increased almost four times, to USD 22.9 million.

Romania is the largest market in terms of revenues for CME. The group owns PRO TV, Romania’s largest TV station, as well as soap opera channel Acasa TV, movie channel PRO Cinema, sports channel Sport.ro and music channel MTV Romania.

CME operates on five other markets in the region: Czech Republic, Slovakia, Bulgaria, Croatia and Slovenia. The group’s net revenues in the first nine months were USD 496 million, 13.5% higher compared to the same period of 2013.

CME had an operational profit (OIBDA) of USD 42 million, compared to a USD 44 million operational loss in the same period of 2013. The group ended the first nine months with total losses of USD 154 million, due to high interest expenses.

editor@romania-insider.com