David Sach new CFO at CME
Firm signs deal to buy free-to-air network bTVCOLOGNE, Germany -- David Sach will take over as chief financial officer at broadcasting group Central European Media Enterprises (CME) next week, replacing Charles Frank, who has been interim CFO at the group since July of last year.
Sach has held senior finance roles at several major firms, including the CFO post at broadband group Clearwire Corporation and mobile telephony firm Millicom International Cellular. His resume also includes exec posts at France Telekom and EMI Group.
Time Warner holds a 31% stake in CME, which controls TV and radio channels across central and eastern Europe. Despite being hard hit by the collapse of the advertising market in those regions, CME has been aggressively expanding, most recently signing a $400 million deal to buy News Corporation's Bulgarian broadcasting assets, particularly free-to-air network bTV.