-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001193805-03-001218.txt : 20031229
<SEC-HEADER>0001193805-03-001218.hdr.sgml : 20031225
<ACCEPTANCE-DATETIME>20031229144956
ACCESSION NUMBER:		0001193805-03-001218
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031229
FILED AS OF DATE:		20031229

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL EUROPEAN MEDIA ENTERPRISES LTD
		CENTRAL INDEX KEY:			0000925645
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEVISION BROADCASTING STATIONS [4833]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		C/O CME DEVELOPEMENT CORP
		STREET 2:		8TH FLOOR ALDWYCH HOUSE 71-91 ALDWYCH
		CITY:			LONDON
		STATE:			X0
		ZIP:			WC2B 4HN
		BUSINESS PHONE:		011442074305430

	MAIL ADDRESS:	
		STREET 1:		CLARENDON HOUSE
		STREET 2:		HAMILTON HM CX
		CITY:			BERMUDA
		STATE:			D0

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LAUDER RONALD S
		CENTRAL INDEX KEY:			0000942617
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24796
		FILM NUMBER:		031075247

	BUSINESS ADDRESS:	
		STREET 1:		767 FIFTH AVENUE STE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
		BUSINESS PHONE:		2125724200

	MAIL ADDRESS:	
		STREET 1:		767 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>e300845_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-12-29</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000925645</issuerCik>
        <issuerName>CENTRAL EUROPEAN MEDIA ENTERPRISES LTD</issuerName>
        <issuerTradingSymbol>CETV</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000942617</rptOwnerCik>
            <rptOwnerName>LAUDER RONALD S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>767 FIFTH AVENUE STE 4200</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10153</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>1</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Class A Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-12-24</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>C</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>600000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>848000</value>
            <footnoteId id="F1"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See Footnote</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Class A Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-12-24</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>G</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>600000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>248000</value>
            <footnoteId id="F3"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See Footnote</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Class B Common Stock</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>0</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-12-24</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>C</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>600000</value>
            <footnoteId id="F4"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
            <footnoteId id="F5"/>
      </exerciseDate>
      <expirationDate>
            <footnoteId id="F5"/>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Class A Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>600000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>6720272</value>
            <footnoteId id="F6"/>
            <footnoteId id="F7"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
           <value>See Footnote</value>
            <footnoteId id="F4"/>
         </natureOfOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Consists of (i) 248,000 shares of Class A Common Stock owned by the Reporting Person and (ii) 600,000 shares of Class A Common Stock owned by RSL Capital LLC, a company wholly owned by the Reporting Person, and converted from Class B Common Stock. Does not include currently exercisable options to purchase 20,004 shares of Class A Common Stock.</footnote>

      <footnote id="F2"> 600,000 shares of Class A Common Stock are owned by RSL Capital LLC, a company wholly owned by the Reporting Person, and were converted from Class B Common Stock.</footnote>

      <footnote id="F3"> Consists of 248,000 shares of Class A Common Stock owned by the Reporting Person. Does not include 600,000 donated to a charity by RSL Capital LLC.</footnote>

      <footnote id="F4"> 600,000 shares of Class B Common Stock owned by RSL Capital LLC, a company wholly owned by the Reporting Person, were converted into 600,000 shares of Class A Common Stock.</footnote>

      <footnote id="F5"> The Class B Common Stock is convertible into Class A Common Stock at the option of the holder at any time without payment of additional consideration and does not have an expiration date.</footnote>

      <footnote id="F6"> Includes (i) 100,000 shares of Class B Common Stock underlying options which are currently exercisable and expire on August 1, 2007, (ii) 4,000 shares of Class B Common Stock underlying options which are currently exercisable and expire on May 18, 2011, (iii) 3,200 shares of Class B Common Stock underlying options which are currently exercisable and expire on May 15, 2012, and (iv) 6,613,072 shares of Class B Common Stock convertible at the option of the holder into Class A Common Stock.</footnote>

      <footnote id="F7"> The 6,613,072 shares of Class B Common Stock referred to in footnote (6) consist of (a) 120,032 shares owned directly by the Reporting Person, 3,385,416 shares owned by RSL Investments Corporation, 1,672,496 shares owned by RSL Capital LLC and 577,784 shares owned by Duna Investments, Inc., all of which are owed by the Reporting Person, (b) 210,456 shares held by RAJ Family Partners L.P., which the Reporting Person may be deemed to beneficially own, and (c) 646,888 shares held by EL/RSLG Media, Inc., of which 50% of the common stock outstanding is beneficially owned by the 1995 Estee Lauder RSL Trust and beneficially owned by the Reporting Person.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Ronald S. Lauder</signatureName>
      <signatureDate>2003-12-24</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----