Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, February 27, 2013

Broadcaster CME looking for ways to improve liquidity, (NYSE: TWX)

Central European Media Enterprises said it is looking to raise cash by selling assets, raising fees and holding talks with its largest shareholder, Time Warner Inc, over increasing its stake in the broadcaster.U.S. media company Time Warner, the owner of the HBO cable network and the Warner Bros. film studio, currently holds a 49.9 percent share in CME, which operates TV stations in central Europe, Romania, Bulgaria, Croatia and Slovenia.The Czech broadcaster has seen sales fall in past quarter as the global economic downturn curbed companies' willingness to spend on advertising.CME said it was mulling new equity financing, asset sales and renegotiating fees with a number of major suppliers among ways to raise cash.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX remained unchanged at $52.28. In the past year, the shares have traded as low as $33.62 and as high as $53.90. On average, 6133770 shares of TWX exchange hands on a given day and today's volume is recorded at 0.