Petr Kellner’s PPF Group is finalizing negotiations with AT&T to buy a majority stake in Central European Media Enterprises (CME), according to Hospodarske Noviny and Aktualne.
The outcome of the talks could come within days. Mr. Kellner is said to be handling the negotiations personally.
AT&T owns 64% of CME’s common stock but effectively controls 75% of the company through preferred shares. The U.S. firm inherited CME after its merger with Time Warner.
CME owns Czech TV Nova and has stations in four other Central European countries.
PPF declined to comment on the ongoing negotiations.
