Time Warner invests in TV

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TW going to spend $241.5M to get a stake in an existing television group, but rather than crossing state lines, were talking about a group with an international scope. Central European Media Enterprises is said to reach 97M viewers in seven Middle and Eastern European nations. According to paidContent.org, TW will get 19M newly-minted shares, controlled for at least four years by CME founder Ronald Lauder. There will also be an opportunity for TW content to be distributed in CME’s service area.