Central European Media Enterprises Announces the Appointment of David Sturgeon as Chief Financial Officer

HAMILTON, Bermuda, June 5, 2014 (GLOBE NEWSWIRE) -- Central European Media Enterprises Ltd. ("CME" or the "Company") CETV (Prague Stock Exchange:CETV) today announced that David Sturgeon was appointed Chief Financial Officer following his service in that capacity on an interim basis.

In a joint statement Michael Del Nin and Christoph Mainusch, Co-Chief Executive Officers of CME, said: "We are pleased to finalize this key appointment in the management team. The depth of Dave's knowledge of the Company and its operations has been instrumental to our progress in improving the efficiency of our businesses. We will leverage his extensive experience in the media industry as we focus on our core broadcast assets and continue strengthening our leading brands in each country in which we operate."

Mr. Sturgeon said, "I'm excited to continue working in this new role as CME forges ahead with the execution of its operating priorities."

Mr. Sturgeon has served as the Company's acting Chief Financial Officer since October 29, 2013. Prior to that, he was Deputy Chief Financial Officer from July 2009. Mr. Sturgeon sits on the board of directors of our main operating subsidiaries and prior to 2013 also served as Chief Financial Officer of the Company's broadcasting and new media divisions. Mr. Sturgeon joined the Company as Group Financial Controller in 2005, prior to which he was with Equant N.V. and Arthur Andersen's Technology, Media and Communications practice. Mr. Sturgeon graduated from Oxford University with an M.A. in Philosophy, Politics and Economics and is a Chartered Accountant.

CME is a media and entertainment company operating leading businesses in six Central and Eastern European markets with an aggregate population of approximately 50 million people. CME broadcasts a total of 33 television channels in Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action, bTV Lady and Ring.bg), Croatia (Nova TV, Doma, Nova World and MiniTV), the Czech Republic (TV Nova, Nova Cinema, Nova Sport, Fanda, Smichov and Telka), Romania (PRO TV, PRO TV International, Acasa, Acasa Gold, PRO Cinema, Sport.ro, MTV Romania, PRO TV Chisinau and Acasa in Moldova), the Slovak Republic (TV Markíza, Doma and Dajto), and Slovenia (POP TV, Kanal A, Brio, Oto and Kino). CME is traded on the NASDAQ Global Select Market and the Prague Stock Exchange under the ticker symbol "CETV."