SEGMENT DATA

Through the year ended December 31, 2011, we manage our business on a divisional basis, with three reportable segments: Broadcast, Media Pro Entertainment and New Media. The business segments reflect how CME Ltd.’s operations are managed by segment managers, how operating performance within the Company is evaluated by senior management and the structure of our internal financial reporting. Supplemental geographic information on the performance of our Broadcast segment is provided due to the significance of our broadcast operations to CME Ltd. Management believes this information is useful to users of the financial statements.

Our Broadcast segment generates revenues from the sale of advertising and sponsorship and our New Media segment generates revenues from display and video advertising, paid premium content and subscriptions. Our Media Pro Entertainment segment generates revenues through the sale of production services to independent film-makers and through the sale of broadcast and distribution rights to third parties. Media Pro Entertainment also develops, produces and distributes television and film content which is shown on our television channels. In addition, the distribution activities of Media Pro Entertainment generate revenues from the distribution of rights to film content to third party clients, from the exhibition of films in our theaters and from the sale of DVD and Blu Ray discs to wholesale and retail clients.

We evaluate the performance of our segments based on Net Revenues and OIBDA. OIBDA, which includes program rights amortization costs, is determined as operating income / (loss) before depreciation, amortization of intangible assets and impairments of assets. Items that are not allocated to our segments for purposes of evaluating their performance and therefore are not included in their OIBDA, include stock-based compensation and certain other items.

Our key performance measure of the efficiency of our segments is OIBDA margin. OIBDA margin is the ratio of OIBDA to Net Revenues.

We believe OIBDA is useful to investors because it provides a more meaningful representation of our performance as it excludes certain items that either do not impact our cash flows or the operating results of our operations. OIBDA is also used as a component in determining management bonuses. Intersegment revenues and profits have been eliminated in consolidation.

OIBDA may not be comparable to similar measures reported by other companies.

Below are tables showing our Net Revenues, OIBDA and Total Assets by segment for the years ended December 31, 2011, 2010 and 2009 for Consolidated Statement of Operations data and as at December 31, 2011 and 2010 for Consolidated Balance Sheet data:



	For the Year Ended December 31,
Net revenues	2011			2010			2009
Broadcast:
Bulgaria	$	93,732		$	61,753		$	3,517
Croatia	61,502			51,350			48,543
Czech Republic	285,865			265,018			271,733
Romania	159,387			157,416			175,409
Slovak Republic	101,973			90,391			106,479
Slovenia	72,519			64,799			63,385
Total Broadcast	774,978			690,727			669,066
Media Pro Entertainment	187,224			140,797			107,683
New Media	15,764			11,193			9,935
Intersegment revenues (1)	(113,184		)	(105,583		)	(104,739		)
Total net revenues	$	864,782		$	737,134		$	681,945

(1) Reflects revenues earned by the Media Pro Entertainment segment through sales to the Broadcast segment. All other revenues are third party revenues.



	For the Year Ended December 31,
OIBDA	2011			2010			2009
Broadcast:
Bulgaria	$	12,897		$	(2,071	)	$	(44,471	)
Croatia	4,659			2,368			634
Czech Republic	140,386			122,818			130,739
Romania	25,939			25,997			39,935
Slovak Republic	9,968			(1,001		)	14,965
Slovenia	19,602			18,427			15,579
Divisional operating costs	(2,361		)	(2,123		)	(2,410		)
Total Broadcast	211,090			164,415			154,971
Media Pro Entertainment	3,996			(3,005		)	7,538
New Media	(2,558		)	(6,542		)	(8,651		)
Central	(41,851		)	(44,062		)	(38,151		)
Elimination	(3,675		)	(3,483		)	(333		)
Total OIBDA	$	167,002		$	107,323		$	115,374



Reconciliation to Consolidated Statement of Operations:	For the Year Ended December 31,
	2011			2010			2009
Total OIBDA	$	167,002		$	107,323		$	115,374
Depreciation of property, plant and equipment	(56,581		)	(58,062		)	(52,583		)
Amortization of intangible assets	(34,881		)	(25,987		)	(19,919		)
Impairment	(68,748		)	(397		)	(81,843		)
Operating income / (loss)	6,792			22,877			(38,971		)
Interest expense, net	(158,704		)	(131,267		)	(112,895		)
Foreign currency exchange (loss) / gain, net	(31,124		)	(5,030		)	82,920
Change in fair value of derivatives	7,281			1,164			1,315
Other income	1			357			1,385
Provision for income taxes	(3,850		)	(5,025		)	(4,737		)
Loss from continuing operations	$	(179,604	)	$	(116,924	)	$	(70,983	)



Total assets (1):	December 31, 2011			December 31, 2010

Broadcast	$	2,362,143		$	2,552,034
New Media	11,206			2,011
Media Pro Entertainment	221,601			224,934
Total Operating Segments	2,594,950			2,778,979
Corporate	100,115			191,503
Elimination	(13,296		)	(29,932		)
Total	$	2,681,769		$	2,940,550

(1) Segment assets exclude any intercompany investments.



Long-lived assets (1):	December 31, 2011		December 31, 2010

Bulgaria	$	13,830	$	18,035
Croatia	7,684		10,017
Czech Republic	54,759		61,274
Romania	90,270		104,304
Slovak Republic	25,608		31,664
Slovenia	23,115		25,163
	215,266		250,457
Corporate	2,101		445
Total long-lived assets	$	217,367	$	250,902

(1) Reflects property, plant and equipment.

We do not rely on any single major customer or group of major customers.