The broadcaster Central European Media Enterprises, which operates the Czech television channel Nova, posted a $70m loss for the fourth quarter of 2011. Net revenues for the year ended December 31, 2011 increased by $127.6m to $864.8 million compared to 2010 and OIBDA1 increased by $59.7 million to $167.0m. Operating income for the year was $6.8m.
Net revenues for the fourth quarter of 2011 increased by $19.5m to $276.9m compared to the fourth quarter of 2010. OIBDA for the quarter improved by $16.4m to $81.2m. The net loss from continuing operations for the quarter was $77.2m.
Adrian Sarbu, President and Chief Executive Officer of CME, commented: “In a difficult year we kept our promises: our revenues grew by 17%, our OIBDA increased by 56% and our cash flow improved by 96%.
