CME completes sale of Series B preferred shares to Time Warner

Hamilton, Bermuda, June 25, 2013 - Central European Media Enterprises Ltd. ("CME") (NASDAQ/Prague Stock Exchange: CETV) announced today the closing of the sale of 200,000 shares of its newly designated Series B Convertible Redeemable Preferred Stock, par value $0.08 per share, to Time Warner Media Holdings B.V., an affiliate of Time Warner Inc., for aggregate consideration of US$ 200 million. The proceeds of this private placement, along with US$ 100 million of net proceeds from CME's public offering completed in May 2013, will be used to fund the repurchase or redemption of a portion of CME's outstanding 11.625% senior notes due 2016.