March 25, 2009
In exchange for its investment, Time Warner will acquire an approximately 31% interest in CME, consisting of 19 million newly issued CME common shares.
On March 23, it was announced that Willkie client Time Warner Inc. will invest $241.5 million in Central European Media Enterprises, a leading media company in Central and Eastern Europe. In exchange for its investment, Time Warner will acquire an approximately 31% interest in CME, consisting of 19 million newly issued CME common shares. Additionally, Warner Bros. and CME have separately agreed to form a partnership to launch and operate new thematic television channels in current CME territories. The investment deal was handled by partners William Gump and Gregory Astrachan, and associates Thomas Mark and Manny Miranda.
