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Central European Media scraps sale of Slovenian business

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Central European Media scraps sale of Slovenian business

Central European Media Enterprises Ltd. has terminated the previously agreed sale of its Slovenian operations to southeast Europe-based operator United Group BV.

With the deal scrapped, CME will retain full ownership of the television network group that includes the POP TV, Kanal A, Brio, Oto and Kino channels.

CME said Jan. 18 that its Slovenian business has "grown its revenues significantly" and increased its level of profitability since the supposed sale was announced in July 2017. The Slovenian Competition Protection Agency eventually rejected the transaction, saying it could hinder competition in the markets for TV sports rights purchases and supply of children's TV programs.

United Group originally sought to acquire CME's broadcast assets in both Slovenia and Croatia for €230 million. The former's unit Slovenia Broadband SARL completed the acquisition of CME's Croatian subsidiary NOVA TV dd in July 2018 for €86.4 million.