Skip to content
Subscriber Only

CME Rallies as Time Warner Buying Shares Shows ‘Confidence’

Central European Media Enterprises Ltd., known as CME, jumped the most in almost five months after Time Warner Inc. increased its stake in the broadcaster.

The stock rose 6.2 percent to 355.8 koruna at its 4:24 p.m. close in Prague, its biggest daily rally since Oct. 11. More than 534,000 shares changed hands, four-times the three-month daily average. In U.S. trading, CME surged 5.9 percent to $20.53 by 11:25 a.m. New York time on the Nasdaq Stock Market.