CME’s CEO Adrian Sarbu said he expects the Czech TV advertising market to grow this year. The ending of advertising on Czech national TV will fuel growth at commercial TV stations. The CEO said he expects the Czech TV ad market to grow in the years ahead at the expense of other ad markets.
According to the CEO, has a cash position of US$ 200m and has therefore secured next year’s debt repayment of US$ 130m. “The CEO’s comments simply confirm previous announcements about wanting to focus on deleveraging. We expect a neutral market reaction to the news,” Piotr Owdziej, analyst of (13,12 EUR, 4,09%) Securities said.
(136,97 CZK, 3,77%) said 2011 OIBDA, or operating income before depreciation and amortization, rose 60 percent from a year ago, Chief Executive Officer Adrian Sarbu confirmed for Hospodarske Noviny in an interview.
Sarbu’s recent stock sell-offs were linked with the needs of his other private business activities, the executive added.