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NEW YORK Flush with cash, Time Warner is taking advantage of the downturn in Central and Eastern Europe to step up its game in a region that many still see as having solid longer-term upside.
The conglomerate said Monday that it would spend $241.5 million to take a stake of about 31 percent in Central European Media Enterprises, a broadcaster focused on the Central and Eastern European markets.
The transaction comes after the media giant received $9.25
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