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AT&T: completes sale of stake in broadcaster CME

(CercleFinance.com) - AT&T has completed the sale of its stake in broadcaster Central European Media Enterprises (CME) to Czech investment firm PPF, the company said on Tuesday.


Under the terms of the deal, AT&T received 1.1 billion dollars in cash, and no longer services approximately 575 million dollars of its debt.

CME owns 30 television channels broadcasting to approximately 45 million people across five Central and Eastern European markets (Bulgaria, the Czech Republic, Romania, Slovakia and Slovenia).

AT&T acquired its stake in CME with the acquisition of Time Warner, now WarnerMedia, in 2018.

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