SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* LAUDER RONALD S (Last) (First) (Middle) 767 FIFTH AVENUE (Street) NEW YORK NY 10153 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol CENTRAL EUROPEAN MEDIA ENTERPRISES LTD [ CETV ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 04/02/2012
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock								17,622,364	I	By Time Warner Media Holdings B.V.(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option: Right to Buy	$2.0558	04/02/2012		M			16,000	05/15/2007(2)	05/15/2012	Class B Common Stock	16,000	$0	0(3)	D
Class B Common Stock	(4)	04/02/2012		M		16,000		(4)	(4)	Class A Common Stock	16,000	$2.0558	26,000	D
Class B Common Stock	(4)							(4)	(4)	Class A Common Stock	4,500,000		4,500,000	I	By TW Holdings BV(5)
Class B Common Stock	(4)							(4)	(4)	Class A Common Stock	2,885,705		2,885,705	I	By RSL Investments Corporation(6)
Class B Common Stock	(4)							(4)	(4)	Class A Common Stock	105,231		105,231	I	By RAJ Family Partners, L.P.(7)

Explanation of Responses:

1. The Reporting Person, Ronald S. Lauder ("RSL"), and RSL Savannah, LLC, the sole member of which is RSL ("RSL Savannah"), each beneficially own 17,622,364 shares of Class A Common Stock that are held directly by Time Warner Media Holdings B.V. ("TW Holdings BV"), over which RSL Savannah has a proxy to vote such shares pursuant to and in accordance with that certain Irrevocable Voting Deed and Corporate Representative Appointment, by and among TW Holdings BV, the Reporting Person, RSL Savannah and the Issuer, dated May 18, 2009 (the "Voting Agreement").

2. The options vested in instalments and the final tranche vested on May 15, 2007.

3. Does not include options held by RSL to acquire 69,000 shares of Class B Common Stock, which are currently exercisable, or options held by RSL to acquire 30,000 shares of Class A Common Stock, of which 20,000 are currently exercisable.

4. Shares of Class B Common Stock are convertible at any time at the option of the holders on a one-for-one basis into shares of Class A Common Stock for no additional consideration. There is no expiration date for this conversion right.

5. RSL and RSL Savannah, each beneficially own 4,500,000 shares of Class B Common Stock that are held directly by TW Holdings BV, over which RSL Savannah has a proxy to vote such shares pursuant to and in accordance with the Voting Agreement.

6. RSL is the beneficial owner of 2,885,705 shares of Class B Common Stock, which are held directly by RSL Investments Corporation, the sole shareholder of which is RSL.

7. RSL is the beneficial owner of 105,231 shares of Class B Common Stock, which are held directly by RAJ Family Partners, L.P., the managing general partner of which is RAJ Family Corporation, of which RSL is Chairman and President.

	/s/ Meredith Steinhaus on behalf of Ronald S. Lauder	04/03/2012
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.