Central European Media Enterprises Ltd. Reports Results for the Full Year and Fourth Quarter Ended December 31, 2013

Central European Media Enterprises Ltd. Reports Results for the Full Year and
Fourth Quarter Ended December 31, 2013

                                  FULL YEAR
                    - Net revenues of US$ 691.0 million -
                       - OIBDA of US$ (46.5) million -

                                FOURTH QUARTER
                    - Net revenues of US$ 237.9 million -
                        - OIBDA of US$ (0.4) million -

HAMILTON, Bermuda, Feb. 28, 2014 (GLOBE NEWSWIRE) -- Central European Media
Enterprises Ltd. ("CME" or the "Company") (Nasdaq:CETV) (Prague Stock
Exchange:CETV) today announced financial results for the full year and three
months ended December 31, 2013.

Net revenues for the year ended December 31, 2013 were US$ 691.0 million
compared to US$ 772.1 million in 2012. OIBDA^1 for the year ended December 31,
2013 was US$ (46.5) million compared to US$ 125.4 million in 2012. Costs
charged in arriving at OIBDA during 2013 included US$ 60.4 million of non-cash
programming impairment, US$ 18.6 million of restructuring charges and US$ 7.1
million of severance charges. For the year ended December 31, 2013, a non-cash
impairment charge in respect of goodwill and intangible assets amounting to
US$ 79.7 million was incurred compared to a charge of US$ 522.5 million in
2012. Operating loss for the year ended December 31, 2013 was US$ 183.1
million compared to US$ 488.2 million in 2012. Net loss for the year ended
December 31, 2013 was US$ 281.5 million compared to US$ 546.4 million in 2012.
Fully diluted loss per share for the year ended December 31, 2013 was US$ 2.21
compared to US$ 6.96 in 2012.

Net revenues for the fourth quarter of 2013 were US$ 237.9 million compared to
US$ 253.3 million for the fourth quarter of 2012. OIBDA for the quarter was
US$ (0.4) million compared to US$ 60.7 million in 2012. Operating loss for the
quarter was US$ 97.5 million compared to US$ 483.1 million in 2012. Net loss
for the quarter was US$ 108.2 million compared to US$ 503.1 million in 2012.
Fully diluted loss per share for the quarter ended December 31, 2013 was US$
0.72 compared to US$ 5.59 for the fourth quarter in 2012.

Michael Del Nin, co-Chief Executive Officer, commented: "While this has been a
difficult year for the company financially, we are encouraged by the progress
we are making on our operating priorities. In addition, today we announced a
series of related financing transactions that, following closing, will
comprehensively address the company's liquidity needs, improve our debt
maturity profile, and set us on a path to being free cash flow positive
starting in 2015."

Christoph Mainusch, co-Chief Executive Officer, added: "Our results from 2013
demonstrate that we continue to be clear market leaders in terms of audience
share in all of our territories and we expect to maintain this position in
2014. We remain committed to our focus on the efficiency of our operations by
identifying opportunities to reduce content and operating costs. However, we
will not jeopardize our leading audience share positions."

^1 OIBDA, which includes amortization and impairment of program rights, is
determined as operating income / (loss) before depreciation, amortization of
intangible assets and impairments of assets as defined in "Segment Data and
Non-GAAP Financial Measures" below.

Consolidated Results for the Year Ended December 31, 2013

Net revenues for the year ended December 31, 2013 were US$ 691.0 million
compared to US$ 772.1 million for the year ended December 31, 2012. For the
year ended December 31, 2013, a non-cash impairment charge in respect of
goodwill and intangible assets amounting to US$ 79.7 million was incurred
compared to a charge of US$ 522.5 million for the year ended December31,
2012.Operating loss for the year ended December31, 2013 was US$ 183.1
million compared to US$ 488.2 million for the year ended December31,
2012.Net loss for the year ended December31, 2013 was US$ 281.5 million
compared to US$ 546.4 million for the year ended December31, 2012.Fully
diluted loss per share for the year ended December31, 2013 was US$ 2.21
compared to US$ 6.96 for the year ended December31, 2012.

OIBDA for the year ended December31, 2013 was US$ (46.5) million compared to
US$ $125.4 million in 2012. OIBDA margin^2 for the year ended December31,
2013 was (6.7)% compared to 16.2% for the year ended December31, 2012.

Headline consolidated results for the years ended December31, 2013 and 2012
were:

                            
                            RESULTS
(US$000's)                   For the Year Ended December 31,
                            2013       2012       % Actual % Lfl^3
Net revenues                 $691,034 $772,085 (10.5)%  (11.9)%
OIBDA                        (46,455)  125,422   Nm^4     Nm^4
Operating loss               (183,121) (488,193) 62.5%    62.6%
Net loss                     (281,533) (546,393) 48.5%    48.6%
Fully diluted loss per share $(2.21)  $(6.96)  Nm^4     Nm^4

Consolidated Results for the Three Months Ended December31, 2013

Net revenues for the three months ended December31, 2013 were US$ 237.9
million compared to US$ 253.3 million for the three months ended December31,
2012.Operating loss for the quarter was US$ 97.5 million compared to US$
483.1 million for the three months ended December31, 2012.Net loss for the
quarter was US$ 108.2 million compared to US$ 503.1 million for the three
months ended December31, 2012.Fully diluted loss per share for the three
months ended December31, 2013 was US$ 0.72 compared to US$ 5.59 for the three
months ended December31, 2012.

OIBDA for the three months ended December31, 2013 was US$ (0.4) million
compared to US$ 60.7 million for the three months ended December31, 2012.
OIBDA margin^2 for the three months ended December31, 2013 was
(0.2)%compared to 24.0% for the three months ended December31, 2012.

Headline consolidated results for the three months ended December31, 2013 and
2012 were:

                            
                            RESULTS
(US$000's)                   For the Three Months Ended December 31,
                            2013           2012          % Actual   % Lfl^3
Net revenues                 $237,909     $253,338    (6.1)%     (8.8)%
OIBDA                        (395)         60,742       Nm^4       Nm^4
Operating loss               (97,486)      (483,139)    79.8%      79.8%
Net loss                     (108,209)     (503,084)    78.5%      78.4%
Fully diluted loss per share $(0.72)      $(5.59)     Nm^4       Nm^4

^2OIBDA margin is defined as the ratio of OIBDA to Net revenues.
^3 % Lfl represents period-on-period percentage change on a constant currency
basis.
^4Number is not meaningful.

Liquidity, Going Concern and Financing Transactions

We continue to take actions to conserve cash, including targeted reductions to
our operating cost base through cost optimization programs and restructuring
efforts, the deferral of programming commitments and capital expenditures and
the deferral or cancellation of development projects. We also delayed the
settlement of payment obligations with a number of key suppliers, including
payments due under contracts for acquired programming, which has resulted in
our accounts payable and accrued liabilities increasing to US$ 296.4 million
at December 31, 2013 compared to US$ 255.7 million at December 31, 2012 and
US$ 240.0 million at December 31, 2011. Despite the expectation of
significantly improved revenue and OIBDA performance in 2014, our cash
interest costs and the need to improve our payables position will result in
increased operating cash outflows during 2014 compared to 2013. We expect that
our cash flows from operating activities will continue to be insufficient to
cover operating expenses and interest payments and we will need other capital
resources this year to fund our operations as well as our debt service and
other obligations as they become due.

We have been evaluating options to improve our liquidity in light of our
results for 2013, outlook for 2014 and our plan to improve our payables
position. In this respect, we have entered into a Framework Agreement with
Time Warner pursuant to which we and Time Warner have committed, subject to
the terms and conditions thereof, to undertake a series of financing
transactions to enhance our overall liquidity and operating cash flow. We have
chosen to raise up to approximately US$ 545.0 million in newindebtedness
through these transactions to enable us to refinance our 11.625% Senior Notes
due 2016 and for general corporate purposes. These transactions, if closed,
will significantly reduce the amount of cash interest to be paid in the coming
years by replacing cash pay indebtedness with non-cash pay indebtedness and
will provide sufficient liquidity to fund our operations and relieve pressure
on our working capital position. Based on our current projections, once closed
these transactions will position the Company to be free cash flow positive
beginning in 2015, and we expect to use this positive free cash flow to repay
the amounts drawn under a Revolving Credit Facility to be entered into with
Time Warner such that the entire balance drawn is repaid at or prior to its
maturity on December 1, 2017.

If a Rights Offering and other financing transactions contemplated by the
Framework Agreement are not closed, we will need other external sources of
capital to continue our operations, including through other debt or equity
financing transactions or asset sales, which may not be available or may not
be available on acceptable terms. If these actions are not successful, and we
are unable to continue to delay payments to some of our major suppliers, we
will not have sufficient liquidity to continue to fund our operations in the
middle of 2014.

Teleconference and Audio Webcast Details

CME will host a teleconference and audio webcast to discuss its fourth quarter
and full year results on Friday, February 28, 2014 at 9:00 a.m. New York time
(2:00 p.m. London time and 3:00 p.m. Prague time). The audio webcast and
teleconference will refer to presentation slides which will be available on
CME's website at www.cme.net prior to the call.

To access the teleconference, U.S. and international callers may dial +1
785-424-1826 ten minutes prior to the start time and reference passcode
CETVQ413. The conference call will be audio webcasted live via www.cme.net. It
can be heard on iPads, iPhones and a range of devices supporting Android and
Windows operating systems.

CME will post the results for the full year and fourth quarter ended
December31, 2013 for its wholly-owned subsidiary CET 21 spol. s r.o. at
www.cme.net by March 31, 2014.

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements. For all
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.Forward-looking statements reflect our current views with
respect to future events and because our business is subject to such risks and
uncertainties, actual results, our strategic plan, 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, the following: the successful closing of the Rights Offering and series of
related transactions with Time Warner; our ability to access other external
sources of capital if such financing transactions are not closed in light of
our current significant liquidity constraints and our poor financial
performance; the impact of our efforts to increase our revenues and recapture
advertising market share in the Czech Republic; our success in improving
advertising revenues in the Czech Republic; decreases in television
advertising spending and the rate of development of the advertising markets in
the countries in which we operate; the effect of the economic downturn and
Eurozone instability in our markets and the extent and timing of any recovery;
our success in implementing our initiatives to diversify and enhance our
revenue streams; the extent to which our debt service obligations restrict our
business; our ability to make cost-effective investments in television
broadcast operations, including investments in programming; our ability to
develop and acquire necessary programming and attract audiences; changes in
the political and regulatory environments where we operate and application of
relevant laws and regulations; and the timely renewal of broadcasting licenses
and our ability to obtain additional frequencies and licenses.

The foregoing review of important factors should not be construed as
exhaustive. For a more detailed description of these uncertainties and other
factors, please see the "Risk Factors" and "Forward-looking Statements"
sections in CME's Annual Report on Form 10-K for the period ended December31,
2013, which was filed with the Securities and Exchange Commission on February
28, 2014. We undertake no obligation to publicly update or review any
forward-looking statements, whether as a result of new information, future
developments or otherwise.

This press release should be read in conjunction with our Annual Report on
Form 10-K for the year ended December31, 2013, which was filed with the
Securities and Exchange Commission on February 28, 2014.

We make available free of charge on our website at www.cme.net our Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form
8-K and amendments to those reports as soon as reasonably practicable after we
electronically file such material with, or furnish it to, the Securities and
Exchange Commission.

CME is a media and entertainment company operating leading businesses in six
Central and Eastern European markets with an aggregate population of
approximately 50 million people. CME broadcasts television channels in
Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action, bTV Lady, bTV Lady+1,
Ring.bg and Ring.bg+1), Croatia (Nova TV, Doma, Nova World and MiniTV), the
Czech Republic (TV Nova, Nova Cinema, Nova Sport, Fanda, Smichov and Telka),
Romania (PRO TV, PRO TV International, Acasa, Acasa Gold, PRO Cinema,
Sport.ro, MTV Romania, PRO TV Chisinau and Acasa in Moldova), the Slovak
Republic (TV Markiza, Doma and Dajto), and Slovenia (POP TV, Kanal A, Brio,
Oto and Kino). CME is traded on the NASDAQ Global Select Market and the Prague
Stock Exchange under the ticker symbol "CETV".

A registration statement (including a prospectus) with respect to rights,
units to be issued upon exercise of rights, New Notes and warrants underlying
the units, and shares of Class A Common Stock issuable upon exercise of
warrants has been filed with the Securities and Exchange Commission (the
"SEC"), but has not yet become effective.Before you invest, you should read
the prospectus in that registration statement and other documents the issuer
has filed with the SEC for more complete information about the issuer and this
offering. You may get these documents for free by visiting EDGAR on the SEC
Web site at www.sec.gov. A copy of the most recent prospectus included in the
registration statement can be accessed on our website at www.cme.net. Please
see "Additional Information Regarding the Proposed Transactions and Certain
Participants" below for additional information.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy any securities described herein, nor shall there be any offer
or sale of such securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.

Additional Information Regarding the Proposed Transactions and Certain
Participants

The registration statement relating to the rights offering has not yet become
effective and no securities may be sold nor may offers to buy be accepted
prior to the time the registration statement becomes effective. CME intends to
commence the rights offering promptly after the registration statement has
been declared effective by the SEC. The terms and conditions of the rights
offering will be made available to CME's shareholders once the rights offering
has commenced. CME has not yet set a record date for the rights offering. A
copy of the prospectus relating to the rights offering meeting the
requirements of Section 10 of the Securities Act of 1933, as amended, and
additional materials relating to the rights offering will be mailed to
shareholders of record of CME shortly after the record date. Shareholders will
then also be able to obtain a copy of this prospectus from the subscription
and information agent for the rights offering.

In connection with the proposed transaction, CME has filed with the SEC, but
not yet distributed to shareholders, a preliminary proxy statement and will
mail or otherwise disseminate the proxy statement and a form of proxy to its
shareholders when it is finalized. Shareholders and investors are encouraged
to read the proxy statement (and other relevant materials) regarding the
proposed transaction carefully and in its entirety when it becomes available,
and before making any voting decision, as it will contain important
information about the transaction. shareholders and investors will be able to
obtain a free copy of the proxy statement, when available, as well as other
filings made by CME regarding Central European Media Enterprises Ltd. and the
proposed transaction at the SEC's website at http://www.sec.gov and CME's
website at www.cme.net.

Additionally, CME and its directors and executive officers and Time Warner may
be deemed, under SEC rules, to be participants in the solicitation of proxies
from CME's shareholders with respect to the approval by the shareholders of
the rights offering and the issuance of the related Warrants to Time Warner.
Shareholders may obtain information regarding the names, affiliations and
interests of such individuals in CME's preliminary proxy statement filed in
connection with the proposed transactions filed with the SEC on February 28,
2014. These documents may be obtained free of charge from the SEC's website at
www.sec.gov and CME's website at www.cme.net.

CENTRAL EUROPEAN MEDIA ENTERPRISES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(US$ 000's, except per share data)

                                                    
                                                    For the Year Ended
                                                    December31,
                                                    2013         2012
Net revenues                                         $691,034   $772,085
Operating expenses:                                              
Content costs                                        427,771     368,256
Other operating costs                                140,898     139,035
Depreciation of property, plant and equipment        40,771      44,498
Amortization of broadcast licenses and other         16,219      46,627
intangibles
Cost of revenues                                     625,659     598,416
Selling, general and administrative expenses         150,220     139,372
Restructuring costs                                  18,600      —
Impairment charge                                    79,676      522,490
Operating loss                                       (183,121)   (488,193)
Interest expense, net                                (111,365)   (126,991)
Loss on extinguishment of debt                       (23,115)    (198)
Foreign currency exchange gain, net                  19,530      4,922
Change in fair value of derivatives                  104         49,027
Other (expense) / income                             (591)       901
Loss before tax                                      (298,558)   (560,532)
Credit for income taxes                              17,025      14,139
Net loss                                             (281,533)   (546,393)
Net loss attributable to noncontrolling interests    3,882       10,713
Net loss attributable to CME Ltd.                    $(277,651) $(535,680)
                                                                
PER SHARE DATA:                                                  
Net loss per share                                               
Net loss per share - Basic and diluted               $(2.21)    $(6.96)
                                                                
Weighted average common shares used in computing per             
share amounts (000's):
Basic and diluted                                    125,723     76,919
                                                                

CENTRAL EUROPEAN MEDIA ENTERPRISES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (continued)
(US$ 000's, except per share data)

                                                   
                                                   For the Three Months Ended
                                                   December31,
                                                   2013          2012
Net revenues                                        $237,909    $253,338
Operating expenses:                                              
Content costs                                       150,755      115,918
Other operating costs                               36,301       37,937
Depreciation of property, plant and equipment       12,965       10,160
Amortization of broadcast licenses and other        4,450        11,231
intangibles
Cost of revenues                                    204,471      175,246
Selling, general and administrative expenses        41,538       38,741
Restructuring costs                                 9,710        —
Impairment charge                                   79,676       522,490
Operating loss                                      (97,486)     (483,139)
Interest expense, net                               (24,722)     (32,144)
Loss on extinguishment of debt                      —           (646)
Foreign currency exchange gain, net                 10,520       5,085
Change in fair value of derivatives                 —           143
Other income                                        194          742
Loss before tax                                     (111,494)    (509,959)
Credit for income taxes                             3,285        6,875
Net loss                                            (108,209)    (503,084)
Net loss attributable to noncontrolling interests   2,887        8,889
Net loss attributable to CME Ltd.                   $(105,322)  $(494,195)
                                                                
PER SHARE DATA:                                                  
Net loss per share                                               
Net loss per share - Basic and diluted              $(0.72)     $(5.59)
                                                                
Weighted average common shares used in computing                 
per share amounts (000's):
Basic and diluted                                   145,841      88,397
                                                                

CENTRAL EUROPEAN MEDIA ENTERPRISES LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(US$ 000's)


                                                    December31, December31,
                                                    2013         2012
ASSETS                                                           
Cash and cash equivalents                            $104,996   $140,393
Other current assets                                 346,061     378,158
Total current assets                                 451,057     518,551
Property, plant and equipment, net                   198,595     206,706
Goodwill and other intangible assets, net            1,008,665   1,121,479
Other non-current assets                             303,556     327,979
Total assets                                         $1,961,873 $2,174,715
LIABILITIES AND EQUITY                                           
Accounts payable and accrued liabilities             $296,406   $255,681
Current portion of long-term debt and other          2,423       21,918
financing arrangements
Other current liabilities                            17,181      13,765
Total current liabilities                            316,010     291,364
Long-term portion of long-term debt and other        963,025     1,198,873
financing arrangements
Other non-current liabilities                        33,947      53,211
Total liabilities                                    $1,312,982 $1,543,448
                                                                
Series B Convertible Redeemable Preferred Stock      207,890     —
                                                                
EQUITY                                                           
Common Stock                                         $10,787    $6,174
Additional paid-in capital                           1,704,066   1,556,250
Accumulated deficit                                  (1,262,916) (982,513)
Accumulated other comprehensive (loss) / income      (11,829)    46,150
Total CME Ltd. shareholders' equity                  440,108     626,061
Noncontrolling interests                             893         5,206
Total equity                                         $441,001   $631,267
Total liabilities and equity                         $1,961,873 $2,174,715
                                                                

CENTRAL EUROPEAN MEDIA ENTERPRISES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(US$ 000's)

                                                      
                                                      For the Year Ended
                                                      December31,
                                                      2013        2012
Net cash used in operating activities                  $(64,198) $(30,027)
Net cash used in investing activities                  (30,136)   (32,426)
Net cash provided by financing activities              59,321     11,896
Impact of exchange rate fluctuations on cash and cash  (384)      4,564
equivalents
Net decrease in cash and cash equivalents              $(35,397) $(45,993)
                                                                 
                                                                 
Net cash used in operating activities                  $(64,198) $(30,027)
Capital expenditure, net of proceeds from disposals    (30,136)   (32,426)
Free cash flow                                         $(94,334) $(62,453)
                                                                 
                                                                 
Supplemental disclosure of cash flow information:                 
Cash paid for interest                                 $108,385  $104,650
Cash paid for income taxes (net of refunds)            $6,629    $6,442

Segment Data and Non-GAAP Financial Measures

From January 1, 2013, we have managed our business on a geographical basis,
with six reporting segments: Bulgaria, Croatia, the Czech Republic, Romania,
the Slovak Republic and Slovenia.

We evaluate the performance of our segments based on Net revenues and OIBDA.
OIBDA, a non- GAAP measure, which includes amortization and impairment of
program rights, is determined as operating income / (loss) before
depreciation, amortization of intangible assets and impairments of assets.
Items that are not allocated to our segments for purposes of evaluating their
performance and therefore are not included in their OIBDA, include stock-based
compensation and certain other items. Our key performance measure of the
efficiency of our segments is OIBDA margin. We define OIBDA margin as the
ratio of OIBDA to Net Revenues. We believe OIBDA is useful to investors
because it provides a more meaningful representation of our performance, as it
excludes certain items that do not impact either our cash flows or the
operating results of our operations.OIBDA is also used as a component in
determining management bonuses. Intersegment revenues and profits have been
eliminated in consolidation.OIBDA may not be comparable to similar measures
reported by other companies. Free cash flow is defined as cash flows from
operating activities less purchases of property, plant and equipment, net of
disposals of property, plant and equipment and is useful as a measure of our
ability to generate cash.

Below are tables showing our Net revenues and OIBDA by segment for the three
and twelve months ended December31, 2013 and 2012, together with a
reconciliation of OIBDA to our consolidated statement of operations:

                     
                     For the Year          For the Three Months
                     Ended December 31,    Ended December 31
(US $000's)           2013       2012       2013       2012
Net revenues                                        
Bulgaria              $87,448  $85,241  $28,854  $27,827
Croatia               61,864    59,299    21,037    19,735
Czech Republic        191,824   278,097   69,970    90,720
Romania               208,077   195,551   66,241    60,576
Slovak Republic       82,404    96,174    30,206    34,579
Slovenia              66,656    68,895    23,244    22,455
Intersegment revenues (7,239)   (11,172)  (1,643)   (2,554)
Total net revenues    $691,034 $772,085 $237,909 $253,338
                                                   

                        
                        For the Year           For the Three Months
                        Ended December 31,     Ended December 31,
(US $000's)              2013        2012       2013       2012
OIBDA                                                   
Bulgaria                 $13,391   $13,121  $10,286  $10,468
Croatia                  8,258      7,924     4,673     1,682
Czech Republic           (11,287)   106,265   (996)     40,366
Romania                  6,081      17,616    865       3,107
Slovak Republic          (19,859)   8,604     (9,643)   9,792
Slovenia                 9,254      14,933    7,182     7,686
Elimination              (32)       (759)     (229)     69
Total Operating Segments $5,806    $167,704 $12,138  $73,170
Central                  (52,261)   (42,282)  (12,533)  (12,428)
Total OIBDA              $(46,455) $125,422 $(395)   $60,742
                                                       

                          
                          For the Year              For the Three Months
                          Ended December 31,        Ended December 31,
(US $000's)                2013         2012         2013         2012
Reconciliation to
condensed consolidated                                         
statements of operations:
Total OIBDA                $(46,455)  $125,422   $(395)     $60,742
Depreciation of property,  (40,771)    (44,498)    (12,965)    (10,160)
plant and equipment
Amortization of intangible (16,219)    (46,627)    (4,450)     (11,231)
assets
Impairment charge          (79,676)    (522,490)   (79,676)    (522,490)
Operating loss             $(183,121) $(488,193) $(97,486)  $(483,139)
Interest expense, net      (111,365)   (126,991)   (24,722)    (32,144)
Loss on extinguishment of  (23,115)    (198)       —          (646)
debt
Foreign currency exchange  19,530      4,922       10,520      5,085
gain, net
Change in fair value of    104         49,027      —          143
derivatives
Other (expense) / income   (591)       901         194         742
Credit for income taxes    17,025      14,139      3,285       6,875
Net loss                   $(281,533) $(546,393) $(108,209) $(503,084)

CONTACT: For additional information,
         please visit www.cme.net or contact:
        
         Mark Kobal
         Head of Investor Relations
         Central European Media Enterprises
         +420 242 465 576
         mark.kobal@cme.net
 
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