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AT&T Closes $1.1B Sale of Central European Media Stake

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hollywoodreporter.com
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WarnerMedia parent AT&T's $1.1 billion sale of a majority stake in Central European Media Enterprises to Czech businessman Petr Kellner's PPF Group closed on Tuesday.

AT&T, led by CEO John Stankey, decided last year to sell the asset. It had acquired the stake in the Prague-based TV networks operator when it bought Time Warner, now WarnerMedia.The company operates networks in Bulgaria, Croatia, the Czech Republic, Romania, the Slovak Republic and Slovenia.

The European Union earlier this month approved the Central European Media (CME) deal, with the latter's management team then saying the transaction would close this week.

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