Radio blow for CETV
Bermuda-registered Central European Media Enterprises Ltd. (CEME) and Czech Republic national radio station Radio Alfa.
The Council ruled that such a partnership could jeopardise competition in the electronic mass media, because CEME, controlled by cosmetics heir Mr. Ronald Lauder, is already majority owner of the Czech Republic's nationwide television station, Nova, Bloomberg Business News reported yesterday.
"The Council is statutorily obliged to make sure that no entity acquires a dominant position in media,'' the Council said in a statement.
London-based CEME, was set up three years ago to invest in television stations in Eastern Europe. Its shares trade on the NASDAQ and were down 75 cents at $15.125 yesterday morning.
The company owns Nova, the only private television station operating nationally in the Czech Republic, and with Polish partners has sought TV licences in Poland.
The company is also developing stations in Berlin and Nuremberg, Germany.