HAMILTON, Bermuda, Feb. 18, 2010 (GLOBE NEWSWIRE) -- Central European
Media Enterprises Ltd. ("CME") (Nasdaq:CETV) (PSE:CETV) announced today
that it has entered into an agreement with News Corporation
(Nasdaq:NWS) to acquire bTV, the free-to-air commercial television
channel in Bulgaria, as well as the bTV Cinema and bTV Comedy cable
channels and 74% of Radio Company C.J. OOD which operates several radio
stations (the bTV Group). Total consideration, which is payable in
cash, is US$400 million on a cash-free and debt-free basis. The
consideration is subject to adjustment in the event that actual working
capital at completion differs from an agreed level of target working
capital. The transaction is subject to the approval of the Bulgarian
Commission for the Protection of Competition and other customary
closing conditions and is expected to complete in the second quarter of
2010.

Adrian Sarbu, President and CEO of CME, commented: "The acquisition of
bTV is the next step in repositioning CME after the sale of our
Ukrainian operations. We are now focused on building a highly
profitable vertically integrated media company operating in the EU and
EU accession countries. bTV greatly complements our portfolio of
broadcasting assets. I am confident that we will be able to bring
Bulgarian viewers an enhanced TV offer and deliver significant value
for our shareholders."

In connection with this acquisition, CME will also enter into an
agreement to acquire from Top Tone Holdings Limited its 20% interest in
CME's Pro.BG business in consideration of a 6% interest in a newly
created subsidiary that will hold the bTV business and Pro.BG
businesses and the termination of the existing agreements in respect of
the Pro.BG business. Top Tone Holdings will also have the right to
acquire an additional 4% interest for a period of up to three years
from closing. The closing is expected to be simultaneous with the
completion of the acquisition of the bTV businesses.

CME was advised by Deutsche Bank AG, London Branch on the acquisition
of the bTV Group.

CME is a vertically integrated media company operating leading
broadcasting, internet and TV content businesses in seven Central and
Eastern European countries with an aggregate population of
approximately 97 million people. CME's television stations are located
in Bulgaria (Pro.bg and Ring.bg), Croatia (Nova TV), Czech Republic (TV
Nova, Nova Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV
International, Acasa, PRO Cinema, Sport.ro and MTV Romania), Slovakia
(TV Markíza, Doma), Slovenia (POP TV, Kanal A and TV Pika) and
Ukraine (Studio 1+1, Studio 1+1 International and Kino). CME is traded
on the NASDAQ and the Prague Stock Exchange under the ticker symbol
"CETV".

Forward Looking Statements

This press release contains forward-looking statements, including those
relating to our Bulgarian operations. For these statements and all
other forward-looking statements, we claim the protection of the safe
harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
are inherently subject to risks and uncertainties, many of which cannot
be predicted with accuracy or are otherwise beyond our control and some
of which might not even be anticipated. Future events and actual
results, affecting our strategic plan as well as our financial
position, results of operations and cash flows, could differ materially
from those described in or contemplated by the forward-looking
statements. Important factors that contribute to such risks include,
but are not limited to, our effectiveness in implementing our strategic
plan our Bulgarian operations; the performance of obligations by third
parties with whom we have entered agreements; the effect of the credit
crisis and economic downturn in our markets as well as in the United
States and Western Europe; decreases in television advertising spending
and the rate of development of the advertising markets in the countries
in which we operate; and our ability to acquire necessary programming
and attract audiences.

For further information visit: www.cetv-net.com.


CONTACT:  Central European Media Enterprises
          Romana Tomasova, Vice President Corporate Communications
          +420242465525
          romana.tomasova@cme-net.com