AT&T to sell majority stake in Central European Media Enterprises for $1.1 billion to pay down debt
AT&T said Sunday that it has agreed to sell its majority stake in Central European Media Enterprises for $1.1 billion to pay down debt.
Under terms of the agreement, AT&T will receive $1.1 billion in cash at close and will also be relieved of a $575 million debt guarantee. The sale is "consistent with AT&T’s plans to monetize non-strategic assets as it continues to pay down debt," the company said. "Given the company’s confidence in reaching a net debt-to-adjusted EBITDA ratio in the 2.
Time Warner first bought a stake in CME in 2009, acquiring 31 percent for $242 million. It later raised that stake.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
15 Jackets and Coats Your Life Is Missing and You'll Want to Buy Before They Sell OutWhen it comes to Fall and Winter staples, having the right jackets and coats is priority number one. These versatile pieces are the ones you'll end up wearing
Read more »
AT&T Sells Central European Media Enterprises For $1.1 Billion To Czech Investment Firm To Pay Down DebtAT&T has agreed to sell its majority stake of Central European Media Enterprises (CME) for $1.1 billion to the Czech investment firm PPF Group N.V. The company has broadcast operations in Bulga…
Read more »
AT&T Sells Stake in Europe’s CME for $1.1 Billion to Pay Down DebtAT&T has struck a deal to sell its majority stake in Central European Media Enterprises for $1.1 billion as part of the telco giant’s larger campaign to shed non-core assets and pay down …
Read more »
How AT&T, Disney and Comcast are handling the move from pay TV to streamingThe pricing and roll-out strategies of streaming services are linked to how much media companies have to gain, or lose, if consumers start relying on streaming video in lieu of cable TV.
Read more »
Emeli Sande drops social media usage to 'once a day' after anxiety battleEXCLUSIVE: The Read All About It singer opened up about overcoming her battle and said she's cut down on social media usage
Read more »
Max Tuchman Shares 3 Lessons Learned From Raising $1.7M Through Equity CrowdfundingIn an effort to show just how diverse funding options can be, Max Tuchman shares how she navigated raising $1.7M by going the equity crowdfunding route.
Read more »