PPF, owned by wealthiest Czech Petr Kellner, announced an acquisition of CME, which owns TV companies in five CEE countries. Czech TV Nova and Slovakia’s TV Markíza are the key assets. PPF explains that the acquisition will complement its telecommunications business in the CEE region (it owns the telecoms operator O2 in Slovakia). It will seek synergies between media content creation and distribution. The transaction is still subject to approval of antitrust authorities. In Bulgaria, the local anti-trust authority has already once banned Kellner from acquiring TV asses. The seller was Time Warner (AT&T) and price was $2.1bn, twice its market capitalization.