CME quiet on channel sale rumours

Time Warner backed Central and Eastern European broadcast group CME is considering selling Nova TV in Croatia and Pop TV in Slovenia, according to a local report.

The news story, which came from a Croatian business news site, follows comments from CME CEO Adrian Sarbu that the company is looking at selling some assets.

The company issued disappointing third-quarter results last month.

Speaking to analysts in the wake of the results, Sarbu said: “We are in the early stages of evaluating the potential for asset sales, as well as other measures to further optimize or restructure our cost base.”

CME bought Nova TV in 2004.

Time Warner upped its stake in CME to 40% earlier this year.

A CME spokesman declined to comment.