The Bermuda-registered company Central European Media Enterprises (CME) announced that it has signed a deal for taking over nationally broadcast TV2 channel and sports cable channel Ring TV for a total price of USD 172mn. CME holds several TV channels in Central and Eastern Europe and its expansion to Bulgaria is expected to have a significant impact on the local TV market. CME TV stations are located in Croatia , Czech Republic , Romania , Slovakia , Slovenia , and Ukraine . The company is also traded on the Prague Stock Eaxhnage and NASDAQ. Current market leaders BTV and Nova Television admit that the entry of CME is a big challenge that will reshape the local media market. The acquired TV channels were in control of special vehicle company Top Tone Media Holdings but were consulted by local businessman Krasimir Gergov, who will retain his consulting positions after the equity transfers. The management of CME commented that the acquisition is an important step in its expansion and hopes to gain a leading market position in Bulgaria in about 5 years.