PRAGUE, July 30 Broadcaster Central European
Media Enterprises (CME) said it expected to
be free cash flow positive starting in 2015 although 2014 would
show a bigger drop than last year.
Its free cash flow was negative $31.0 million at the end of
the first half this year.
It said it had been making higher payments to suppliers of
foreign programming after closing new financing deals with its
main shareholder, Time Warner. CME expected to continue
reducing programming liabilities, it said.
"As a result, we expect free cash flow for the full year
2014 to be more negative than that of 2013," it said in a
regulatory filing. "Following closing of the financing
transactions, we believe we are positioned to be free cash flow
positive beginning in 2015."
(Reporting by Jason Hovet, editing by Louise Heavens)