----

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**UNITED        STATES**

**SECURITIES        AND EXCHANGE COMMISSION**

**Washington,        D.C. 20549**

**FORM        10-K/A**

**AMENDMENT        NO.1 TO FORM 10-K**

**x**
**ANNUAL        REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF        1934**

**For        the fiscal year ended December 31, 2006**

**o**
**TRANSITION        REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF        1934**

**CENTRAL        EUROPEAN MEDIA ENTERPRISES LTD.**

| **BERMUDA**                                                                      |   | **98-0438382**                                     |
|----------------------------------------------------------------------------------|--------|----------------------------------------------------|
| (State                  or other jurisdiction of incorporation and organization) |   | (IRS                  Employer Identification No.) |
| Clarendon                  House, Church Street, Hamilton                        |   | HM                  11 Bermuda                     |
| (Address                  of principal executive offices)                        |   | (Zip                  Code)                        |

**Securities        registered pursuant to Section 12(b) of the Act: NONE**

**Securities        registered pursuant to Section 12(g) of the Act: **

**CLASS        A COMMON STOCK, $0.08 PAR VALUE**

| Large                  accelerated filer x |   | Accelerated                  filer o |   | Non-accelerated                  filer o |
|--------------------------------------------|--------|--------------------------------------|--------|------------------------------------------|

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**EXPLANATORY        NOTE **

**TABLE        OF CONTENTS**

|                               |                                                                                                                             | Page   |
|-------------------------------|----------------------------------------------------------------------------------------------------------------------------------|--------|
| **PART                  III** |                                                                                                                             |
|                          |                                                                                                                             |
| Item                  10      | Directors,                  Executive Officers and Corporate                  Governance                                         | 2      |
|                          |                                                                                                                             |   |
| Item                  11      | Executive                  Compensation                                                                                          | 7      |
|                          |                                                                                                                             |   |
| Item                  12      | Security                  Ownership of Certain Beneficial Owners and Management                  and Related Stockholder Matters | 23     |
|                          |                                                                                                                             |   |
| Item                  13      | Certain                  Relationships and Related Transactions and Director                  Independence                       | 31     |
|                          |                                                                                                                             |   |
| Item                  14      | Principal                  Accountant Fees and Services                                                                          | 33     |

*Page            1*

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*Table            of Contents*

**PART        III**

**ITEM            10.  **
**DIRECTORS,            EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE**

**Directors**

*Ronald        S. Lauder*

*Herbert        A. Granath*

*Michael        N. Garin*

*Page            2*

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*Table            of Contents*

*Frank        Ehmer*

*Charles        R. Frank, Jr.*

*Herbert        Kloiber*
* *

*Alfred        W. Langer*
* *

*Bruce        Maggin*

*Page            3*

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*Table            of Contents*

*Ann        Mather*

*Christian        Stahl*

*Eric        Zinterhofer*

**Corporate        Governance**

*Code        of Conduct and Ethics*

*Page            4*

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*Table            of Contents*

*Audit        Committee*

**Section        16(a) Beneficial Ownership Reporting Compliance**

**Executive**
**        Officers**

*Wallace        Macmillan*

*Adrian        Sarbu*

*Page            5*

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*Table            of Contents*

*Marina        Williams*

*Page            6*

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*Table            of Contents*

**ITEM11.        EXECUTIVE COMPENSATION**

**Compensation        Discussion and Analysis**

**Philosophy        and Objectives of Compensation Programs **

*General        Philosophy *

|   | · | Attract                  and retain executives with the experience and expertise to drive                  us to                  achieve our stated objectives. This means that we provide competitive                  pay                  opportunities to executives who are able to deliver competitive                  results. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reward                  executives for creating shareholder value. This means that our                  long-term                  incentive programs are equity-based and that these equity-based                  programs                  represent a significant percentage of the total compensation opportunity                  for our executives. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Provide                  a mix of short-term and long-term compensation to achieve a balance                  between current income and long-term incentive opportunities that                  promote                  focus on both annual and multi-year business objectives. The mix                  between                  short-term and long-term is also designed to reflect the roles                  and                  responsibilities of the individual. This means that senior executives                  have                  a higher percentage of their total potential compensation tied                  to variable                  (versus fixed) pay, and long-term (versus short-term) pay. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Create                  a strong culture that rewards results and responsibility. This                  means that                  incentive plans reward a combination of our overall results through                  the                  achievement of specific financial goals and individual accountability                  and                  contributions through the use of specific goals and                  objectives. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Is                  appropriate in light of our size, strategy and anticipated performance.                  This means that while the Compensation Committee considers competitive                  practice in its decision-making, it places significant emphasis                  on our                  specific strategy, financial situation and performance in the ultimate                  determination of compensation decisions. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Compensation        Design and Elements of Compensation **
* *

*Base        Salary*

*Page            7*

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*Table            of Contents*

*Annual        Incentive Plans *

|   | · | We                  reported consolidated revenues of $603.1 million for the year ended                  December 31, 2006, a 50% increase over consolidated net revenues                  for the                  year ended December 31, 2005. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We                  reported Segment EBITDA2                  of                  $218.8 million for the year ended December 31, 2006, a 39% increase                  over                  Segment EBITDA2                  for the year ended December 31,                  2005. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                  remarkable results reflect the successful management of the implementation                  of a new transparent advertising strategy in the Czech Republic                  as well as                  continued strong performance of the Romanian and Ukrainian                  operations. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We                  raised approximately $168 million through the issuance of 2,530                  shares of                  Class A Common Stock in March 2006. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We                  successfully extended our primary broadcast license (for prime                  time and                  off prime time) in Ukraine for an additional ten                  years. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Active                  management of investor relations has resulted in us receiving additional                  analyst coverage and has contributed to strong growth in our share                  price. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 1 | This                  comparison excludes Mr. Burke, who resigned on October 1, 2006                  and as a                  consequence was not entitled to participate in our annual discretionary                  bonus scheme.  |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2  | For                  a quantitative reconciliation of non-GAAP financial measures to                  the most                  directly comparable financial measurements in accordance with GAAP,                  see                  Item 8, Note 19 of the Company’s Annual Report on Form 10-K for the year                  ended December 31, 2006. |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Page            8*

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*Table            of Contents*

*Long-term        Equity Incentive Program (LTIP) *

*Other        Benefits and Perquisites*

*Stock        Ownership Guidelines*

*Severance        *

*Compensation        Consultant*

*Page            9*

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*Table            of Contents*

*Role        of Executives in Establishing Compensation *

*Equity        Granting Policy*

|   | · | The                  award date of all equity grants shall only occur during a period                  when                  trading in our shares is permitted in accordance with our Insider                  Trading                  Policy. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | All                  grants to Section 16 officers, including grants to new hires, must                  be                  approved at a meeting of the Compensation Committee, including                  telephonic                  meetings, and may not occur through action by unanimous written                  consent. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                  grant date of any equity awards approved at a meeting of the Compensation                  Committee shall be the date of such meeting or, in connection with                  an                  anticipated hire or an award to be granted in several installments,                  a                  future date established by the Compensation Committee at such meeting,                  subject to employment commencing. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                  exercise price for all option awards shall not be less than our                  stock                  price on the date of grant. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

**Impact        of Tax and Accounting on Compensation Decisions **

*Page            10*

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*Table            of Contents*

**C**
**ompensation        Committee Report**

|   | Submitted                  by:                         |
|--------|--------------------------------------------------------|
|   |                                                   |
|   | Bruce                  Maggin                          |
|   | Herbert                  A. Granath                    |
|   |                                                   |
|   | Members                  of the Compensation Committee |

**Summary        Compensation Table**

|                                                                       |   | **Year** |   | **Salary                  ($)** |   | **Bonus                  ($)** |   | **Option                  awards****($)**(2) |   | **All                  Other Compensation ($)** |   | **Total                  Compensation ($)** |   |
|----------------------------------------------------------------------------|--------|----------|--------|---------------------------------|--------|--------------------------------|--------|----------------------------------------------|--------|-------------------------------------------------|--------|---------------------------------------------|--------|
| Michael                  Garin Chief                  Executive Officer    |   | 2006     |   | 625,000                         |   | 1,400,000                      |   | 913,055                                      |   | 152,012(3)                                      |   | 3,090,067                                   |   |
| Robert                  Burke (1)Chief                  Operating Officer  |   | 2006     |   | 248,372                         |   | -                              |   | 120,041                                      |   | 64,482(4)                                       |   | 432,895                                     |   |
| Wallace                  MacmillanChief                  Financial Officer |   | 2006     |   | 436,950                         |   | 297,774                        |   | 188,226                                      |   | 3,763(5)                                        |   | 926,713                                     |   |
| Marina                  WilliamsExecutive                  Vice President  |   | 2006     |   | 402,454                         |   | 1,021,575                      |   | 276,738                                      |   | 3,736(5)                                        |   | 1,704,503                                   |   |
| Adrian                  Sarbu Regional                  Director           |   | 2006     |   | 924,887                         |   | 426,887                        |   | 86,982                                       |   | 2,630(5)                                        |   | 1,441,386                                   |   |

| (1) | Mr.                  Burke resigned on October 1, 2006. |
|-----|---------------------------------------------------------|

| (2) | These                  amounts reflect the dollar amount recognized for financial statement                  reporting purposes for the fiscal year ended December 31, 2006                  in                  accordance with FAS 123(R) of awards pursuant to the 1995 Plan,                  which                  includes amounts from awards granted in and prior to 2006. Assumptions                  used in the calculation of this amount are included in Item 8,                  Note 17 to                  our audited financial statements included in our Annual Report                  on Form                  10-K for the year ended December 31,                  2006. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Page            11*

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*Table            of Contents*

| (3) | Approximately                  $24,000 represents life and health insurance benefits paid by us.                  * *As                  part of his employment arrangement, Mr. Garin is deemed to be based                  in                  Westchester County, New York, the United States of America, where                  he                  maintains a home, and is entitled to reimbursement for expenses                  incurred                  by him, his travel companion and his family for travel (including                  ground                  transportation costs), accommodation, meals and related costs while                  travelling on personal business. During 2006 such expenses included                  approximately $85,000 for travel costs (including ground transportation                  costs), approximately $25,000 for meals and approximately $10,000                  for                  accommodation. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Represents                  payments for housing allowances stipulated in Mr. Burke’s contract                  (approximately $62,000) and life and health insurance benefits                  paid by                  us. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Represents                  life and health insurance benefits paid by                  us. |
|-----|---------------------------------------------------------------------------------------------|

*Michael        Garin*

*Robert        Burke*

*Page            12*

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*Table            of Contents*

*Wallace        Macmillan*

* *

*Marina        Williams*

*Adrian        Sarbu*

*Page            13*

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*Table            of Contents*

**Grants        of Plan Based Awards**

|                               |   | **Grant                  Date** |   | **All                  Other Option Awards: Number of Securities Underlying                  Options** |   | **Exercise                  / Base Price of Option Awards ($/Sh)** |   |  **Grant                  Date Fair Value of Stock and Option Award****($)**(5) |
|------------------------------------|--------|---------------------------------|--------|--------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------|
|                               |   |                            |   |                                                                                                   |   |                                                               |   |                                                                                 |
| Michael                  Garin     |   | 06/08/2006                      |   | 20,000                  (2)                                                                            |   | 56.42                                                              |   | 664,220                                                                              |
|                               |   | 07/28/2006                      |   | 80,000                  (3)                                                                            |   | 60.64                                                              |   | 2,093,120                                                                            |
|                               |   |                            |   |                                                                                                   |   |                                                               |   |                                                                                 |
| Robert                  Burke (1)  |   | -                               |   | -                                                                                                      |   | -                                                                  |   | -                                                                                    |
|                               |   |                            |   |                                                                                                   |   |                                                               |   |                                                                                 |
| Wallace                  Macmillan |   | 06/08/2006                      |   | 8,000                  (2)                                                                             |   | 56.42                                                              |   | 230,648                                                                              |
|                               |   | 12/14/2006                      |   | 12,500                  (4)                                                                            |   | 72.05                                                              |   | 438,788                                                                              |
|                               |   |                            |   |                                                                                                   |   |                                                               |   |                                                                                 |
| Marina                  Williams   |   | 05/01/2006                      |   | 12,500                  (5)                                                                            |   | 64.81                                                              |   | 415,138                                                                              |
|                               |   |                            |   |                                                                                                   |   |                                                               |   |                                                                                 |
| Adrian                  Sarbu      |   | 06/08/2006                      |   | 8,000                  (2)                                                                             |   | 56.42                                                              |   | 230,648                                                                              |

| (1) | Mr.                  Burke resigned on October, 1 2006. |
|-----|--------------------------------------------------------------|

| (2) | This                  grant reflects an annual grant of options made to Named Executive                  Officers. The exercise price is equal to the closing price of our                  shares                  of Class A Common Stock on June 8, 2006, the date such grant was                  made.                  Such options become exercisable in four equal installments on each                  anniversary of the grant and expire on June 7,                  2016. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Pursuant                  to an amendment to Mr. Garin’s employment agreement in 2006, Mr. Garin has                  been granted options to purchase 80,000 shares of Class A Common                  Stock at                  an exercise price of $60.64 per share. The exercise price is equal                  to the                  closing price of our shares of Class A Common Stock on July 28,                  2006, the                  date such amendment was entered into. Such options become exercisable                  in                  three annual installments: as to 32,000 shares on January 31, 2009,                  as to                  64,000 shares on January 31, 2010 and as to 80,000 shares on January                  31,                  2011. Such options expire on July 27,                  2016. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | In                  connection with an amendment to Mr. Macmillan’s employment agreement in                  2006, Mr. Macmillan was granted options to purchase 12,500 shares                  of Class                  A Common Stock on December 14, 2006 at an exercise price equal                  to the                  closing price of our shares of Class A Common Stock on that day.                  Such                  options become exercisable in four equal installments on each anniversary                  of the grant and expire on December 13,                  2016. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Page            14*

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*Table            of Contents*

| (5) | In                  connection with an amendment to Ms. Williams’ employment agreement in                  2006, Ms. Williams was granted options to purchase 12,500 shares                  of Class                  A Common Stock on May 1, 2006 at an exercise price equal to the                  closing                  price of our shares of Class A Common Stock on that day. Such options                  become exercisable in four equal installments on each anniversary                  of the                  grant and expire on April 30, 2016. Pursuant to this amendment,                  Ms.                  Williams is entitled to receive a grant of options to purchase                  12,500                  shares of Class A Common Stock on April 1 (or the next succeeding                  business                  day) of each year of the remaining term of her employment agreement                  (which                  expires on March 31, 2010). The exercise price of such options                  will be the                  closing price of our shares of Class A Common Stock on the date                  of grant                  and these options will become exercisable in four equal installments                  on                  each anniversary of the grant. Accordingly, on April 2, 2007, Ms.                  Williams                  was awarded options to purchase 12,500 shares of our Class A Common                  Stock                  at an exercise price of $87.91 per share. Such options become exercisable                  in 4 equal annual installments on each of the first four anniversaries                  of                  the date of grant. Such options expire on April 1,                  2017. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | For                  a discussion of the assumptions underlying the valuation of employee                  stock                  compensation, see Item 8, Note 17 of our Annual Report on Form                  10-K for                  the year ended December 31,                  2006. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Outstanding        Equity Awards at December 31, 2006**

*Page            15*

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*Table            of Contents*

|                               |   |                            |   |                                                                                     |   | **Option                  Awards**                                                                          |   |                                                                                                                             |   |                                              |   |                                        |
|------------------------------------|--------|---------------------------------|--------|------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------|--------|---------------------------------------------|
|                               |   | **Grant                  Date** |   | **Number                  of Securities Underlying Unexercised Options (#) Exercisable** |   | **Number                  of Securities Underlying Unexercised Options (#)                  Unexercisable** |   | **Equity                  Incentive Plan Awards: Number of Securities Underlying Unexercised                  Unearned Options** |   | **Option                  Exercise Price****($)** |   | **Option                  Expiration Date** |
|                               |   |                            |   |                                                                                     |   |                                                                                                        |   |                                                                                                                             |   |                                              |   |                                        |
| Michael                  Garin     |   |                            |   | **87,500**                                                                               |   | **202,500**                                                                                                 |   | **-**                                                                                                                            |   |                                              |   |                                        |
|                               |   | 02/02/2004                      |   | 80,000                                                                                   |   | 80,000                  (2)                                                                                 |   | -                                                                                                                                |   | 19.49                                             |   | 01/31/2014                                  |
|                               |   | 06/02/2005                      |   | 7,500                                                                                    |   | 22,500                  (2)                                                                                 |   | -                                                                                                                                |   | 44.50                                             |   | 06/01/2015                                  |
|                               |   | 06/08/2006                      |   | -                                                                                        |   | 20,000                  (2)                                                                                 |   | -                                                                                                                                |   | 56.42                                             |   | 06/07/2016                                  |
|                               |   | 07/28/2006                      |   | -                                                                                        |   | 80,000                  (3)                                                                                 |   | -                                                                                                                                |   | 60.64                                             |   | 07/27/2016                                  |
|                               |   |                            |   |                                                                                     |   |                                                                                                        |   |                                                                                                                             |   |                                              |   |                                        |
| Robert                  Burke (1)  |   |                            |   | **178,750**                                                                              |   | **11,250**                                                                                                  |   |                                                                                                                             |   |                                              |   |                                        |
|                               |   | 04/01/2002                      |   | 95,000                                                                                   |   | -                                                                                                           |   | -                                                                                                                                |   | 2.14                                              |   | 03/31/2012                                  |
|                               |   | 05/29/2003                      |   | 80,000                                                                                   |   | -                                                                                                           |   | -                                                                                                                                |   | 10.37                                             |   | 05/28/2013                                  |
|                               |   | 06/02/2005                      |   | 3,750                                                                                    |   | 11,250                  (2)                                                                                 |   | -                                                                                                                                |   | 44.50                                             |   | 06/01/2015                                  |
|                               |   |                            |   |                                                                                     |   |                                                                                                        |   |                                                                                                                             |   |                                              |   |                                        |
| Wallace                  Macmillan |   |                            |   | **20,833**                                                                               |   | **34,667**                                                                                                  |   |                                                                                                                             |   |                                              |   |                                        |
|                               |   | 05/29/2003                      |   | 5,000                                                                                    |   | -                                                                                                           |   | -                                                                                                                                |   | 10.37                                             |   | 05/28/2013                                  |
|                               |   | 05/05/2004                      |   | 13,333                                                                                   |   | 6,667                  (4)                                                                                  |   | -                                                                                                                                |   | 18.93                                             |   | 05/04/2014                                  |
|                               |   | 06/02/2005                      |   | 2,500                                                                                    |   | 7,500                  (2)                                                                                  |   | -                                                                                                                                |   | 44.50                                             |   | 06/01/2015                                  |
|                               |   | 06/08/2006                      |   | -                                                                                        |   | 8,000                  (2)                                                                                  |   | -                                                                                                                                |   | 56.42                                             |   | 06/07/2016                                  |
|                               |   | 12/14/2006                      |   | -                                                                                        |   | 12,500                  (2)                                                                                 |   | -                                                                                                                                |   | 72.05                                             |   | 12/13/2016                                  |
|                               |   |                            |   |                                                                                     |   |                                                                                                        |   |                                                                                                                             |   |                                              |   |                                        |
| Marina                Williams     |   |                            |   |  **17,083**                                                                         |   | **30,417**                                                                                                  |   |                                                                                                                             |   |                                              |   |                                        |
|                               |   | 11/22/2004                      |   | 13,333                                                                                   |   | 6,667                  (4)                                                                                  |   | -                                                                                                                                |   | 32.80                                             |   | 11/21/2014                                  |
|                               |   | 06/02/2005                      |   | 3,750                                                                                    |   | 11,250                  (2)                                                                                 |   | -                                                                                                                                |   | 44.50                                             |   | 06/01/2015                                  |
|                               |   | 05/01/2006                      |   | -                                                                                        |   | 12,500                  (2)                                                                                 |   | -                                                                                                                                |   | 64.81                                             |   | 04/30/2016                                  |
|                               |   |                            |   |                                                                                     |   |                                                                                                        |   |                                                                                                                             |   |                                              |   |                                        |
| Adrian                  Sarbu      |   |                            |   | **5,000**                                                                                |   | **15,000**                                                                                                  |   |                                                                                                                             |   |                                              |   |                                        |
|                               |   | 11/18/2004                      |   | 4,000                                                                                    |   | 4,000                  (2)                                                                                  |   | -                                                                                                                                |   | 32.99                                             |   | 11/17/2014                                  |
|                               |   | 12/21/2005                      |   | 1,000                                                                                    |   | 3,000                  (2)                                                                                  |   | -                                                                                                                                |   | 57.00                                             |   | 12/20/2015                                  |
|                               |   | 06/08/2006                      |   | -                                                                                        |   | 8,000                  (2)                                                                                  |   | -                                                                                                                                |   | 56.42                                             |   | 06/07/2016                                  |

| (1) | Mr.                  Burke resigned on October 1, 2006. |
|-----|---------------------------------------------------------|

| (2) | These                  options vest in four equal installments on each anniversary of                  the date of                  grant. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Pursuant                  to an amendment to Mr. Garin’s employment agreement in 2006, Mr. Garin has                  been granted options to acquire 80,000 shares of Class A Common                  Stock.                  Such options become exercisable in three annual installments: as                  to 32,000                  shares on January 31, 2009, as to 64,000 shares on January 31,                  2010 and as                  to 80,000 shares on January 31, 2011. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | These                  options vest in three equal installments on each anniversary of                  the date                  of grant. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

*Page            16*

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*Table            of Contents*

**Option        Exercises and Stock Vested**

|                                   |   | **Option                    Awards**                         |
|----------------------------------------|--------|--------------------------------------------------------------|
|                                   |   |                                                         |
|                                   |   | **Number                    of Shares Acquired on Exercise** |   | **Value                    Realized on Exercise****($)**(3) |
|                                   |   |                                                         |   |   |
| Michael                    Garin       |   | -                                                            |   | - |
| Robert                    Burke (1)    |   | 25,000                                                       |   | 1,561,800 |
| Wallace                    Macmillan   |   | 15,000                                                       |   | 757,275 |
| Marina                    Williams (2) |   | -                                                            |   | - |
| Adrian                    Sarbu        |   | -                                                            |   | - |

| (1) | Mr.                  Burke resigned on October 1, 2006. On March 1, 2007, he exercised                  his                  remaining options to purchase 178,750 shares of Class A Common                  Stock. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | On                  March 16, 2007, Ms. Williams exercised an option to purchase 8,500                  shares                  of Class A Common Stock that were granted on November 22, 2005,                  realizing                  a gain on exercise of $418,540. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The                  value realized at exercise represents the difference between the                  market                  price on the date of exercise and the exercise price of the options                  exercised. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Potential        Payments upon Termination or Change of Control**

***Michael        Garin***
** **

*Page            17*

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*Table            of Contents*

***Robert        Burke***

***Wallace        Macmillan***

*Page            18*

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*Table            of Contents*

***Marina        Williams***

***Adrian        Sarbu***

*Pro        TV Agreement*

*CET        21 Agreement*

*Page            19*

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*Table            of Contents*

**Compensation        of Directors**

| **Name                  of Director** |   | **Fees                  Earned or Paid in Cash ($)** |   | **Option                  Awards ($)**(3) |   | **Total                  Compensation ($)** |   | **Number                  of Securities Underlying Options Outstanding**(5) |
|---------------------------------------|--------|------------------------------------------------------|--------|-------------------------------------------|--------|---------------------------------------------|--------|-----------------------------------------------------------------------------|
|                                  |   |                                                 |   |                                      |   |                                        |   |                                                                        |
| Ronald                  Lauder        |   | -                                                    |   | 166,429                  (4)              |   | 166,429                                     |   | 70,000                                                                      |
| Herbert                  Granath      |   | 57,500                                               |   | 169,305                                   |   | 226,805                                     |   | 60,000                                                                      |
| Frank                  Ehmer (1)      |   | -                                                    |   | -                                         |   | -                                           |   | -                                                                           |
| Charles                  Frank        |   | 62,000                                               |   | 114,139                                   |   | 176,139                                     |   | 36,800                                                                      |
| Herbert                  Kloiber (2)  |   | 45,833                                               |   | 26,306                                    |   | 72,139                                      |   | 6,000                                                                       |
| Alfred                  Langer        |   | 62,000                                               |   | 155,899                                   |   | 217,899                                     |   | 54,400                                                                      |
| Bruce                  Maggin         |   | 55,000                                               |   | 119,836                                   |   | 174,836                                     |   | 44,000                                                                      |
| Ann                  Mather           |   | 67,000                                               |   | 98,534                                    |   | 165,534                                     |   | 28,000                                                                      |
| Christian                  Stahl (1)  |   | -                                                    |   | -                                         |   | -                                           |   | -                                                                           |
| Eric                  Zinterhofer     |   | -                                                    |   | 110,318                                   |   | 110,318                                     |   | 28,000                                                                      |

*Page            20*

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*Table            of Contents*

| (1) | Frank                  Ehmer and Christian Stahl were appointed to the Board of Directors                  on                  September 1, 2006. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Herbert                  Kloiber was appointed to the Board of Directors on February 1,                  2006. |
|-----|----------------------------------------------------------------------------------------------------------------|

| (3) | These                  amounts reflect the dollar amount recognized for financial statement                  reporting purposes for the fiscal year ended December 31, 2006                  in                  accordance with FAS 123(R) of awards pursuant to the 1995 Plan,                  which                  includes amounts from awards granted in and prior to 2006. Assumptions                  used in the calculation of this amount are included in Item 8,                  Note 17 of                  our Annual Report on Form 10-K for the year ended December 31,                  2006. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Ronald                  Lauder was awarded an option to purchase 6,000 shares of Class                  B Common                  Stock at the date of the 2006 Annual General Meeting; each of the                  remaining directors appointed at the 2006 Annual General Meeting                  was                  awarded an option to purchase 6,000 shares of Class A Common Stock                  as                  further described below. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Ronald                  Lauder has been awarded options to purchase shares of Class B Common                  Stock                  and all other directors have been awarded options to purchase shares                  of                  Class A Common Stock. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Directors’        Fees*

*Automatic        Equity Grant*

*Page            21*

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*Table            of Contents*

**Compensation        Committee Interlocks and Insider Participation**

*Page            22*

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*Table            of Contents*

**ITEM12.        SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND        MANAGEMENT AND RELATED STOCKHOLDER MATTERS**

|                                                                            |   | **Beneficial                    Ownership**             |   | **Beneficial                    Ownership**          |   | **Common                    Stock**                            |
|---------------------------------------------------------------------------------|--------|---------------------------------------------------------|--------|------------------------------------------------------|--------|----------------------------------------------------------------|
|                                                                            |   | **of****Class                    A Common****Stock(a)** |   | **of****Class                    B Common****Stock** |   | **%                    of****Voting                    Power** |   | **%****Ownership** |
| **Name                    of Beneficial Owner**                                 |   | **Number**                                              |   | **Percent**                                          |   | **Number**                                                     |   | **Percent** |   | **(b)** |   | **(b)** |
| Ronald                    S. Lauder (1)(13)                                     |   | 60,000                                                  |   | *                                                    |   | 6,361,139(31)                                                  |   | 100% |   | 64.82% |   | 15.67% |
| Michael                    N. Garin                                             |   | 127,500(19)                                             |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Frank                    Ehmer (2)                                              |   | --                                                      |   | --                                                   |   | *--*                                                           |   | *--* |   | *--* |   | *--* |
| Charles                    R. Frank, Jr.                                        |   | 11,900(20)                                              |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Herbert                    A. Granath                                           |   | 38,300(21)                                              |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Herbert                    Kloiber (3)                                          |   |                                                    |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Alfred                    W. Langer                                             |   | 32,700(23)                                              |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Bruce                    Maggin                                                 |   | 14,300(24)                                              |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Ann                    Mather                                                   |   | 5,500(25)                                               |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Christian                    Stahl (4)                                          |   | --                                                      |   | --                                                   |   | *--*                                                           |   | *--* |   | *--* |   | *--* |
| Eric                    Zinterhofer                                             |   | 9,500(26)                                               |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
|                                                                            |   |                                                    |   |                                                 |   |                                                           |   |   |   |   |   |   |
| Robert                    E. Burke (5)                                          |   | 100,000                                                 |   | ***                                                  |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Wallace                    Macmillan                                            |   | 27,500(27*)*                                            |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Adrian                    Sarbu (6)                                             |   | 5,000(28)                                               |   | *                                                    |   | *--*                                                           |   | *--* |   | *** |   | *** |
| Marina                    Williams                                              |   | 11,708(29)                                              |   | ***                                                  |   | *--*                                                           |   | *--* |   | *** |   | *** |
|                                                                            |   |                                                    |   |                                                 |   |                                                           |   |   |   |   |   |   |
| All                    directors and executive officers as a group (14 persons) |   | 443,908(30)                                             |   | 1.27%                                                |   | 6,361,139                                                      |   | 100% |   | 65.02% |   | 16.49% |
|                                                                            |   |                                                    |   |                                                 |   |                                                           |   |   |   |   |   |   |
| Federated                    Investors, Inc. (7)(14)                            |   | 3,117,988                                               |   | 9.01%                                                |   | *--*                                                           |   | -- |   | 3.19% |   | 7.62% |
| Eric                    Semler (8) (15)                                         |   | 2,952,685                                               |   | 8.53%                                                |   | *--*                                                           |   | -- |   | 3.02% |   | 7.21% |
| Apax                    Partners Europe Managers Limited (9) (16)               |   | 60,000                                                  |   | *                                                    |   | 6,312,839                                                      |   | 100% |   | 64.64% |   | 15.57% |
| Apax                    Europe VI GP Co. Ltd.(9)(16)                            |   | 60,000                                                  |   | *                                                    |   | 6,312,839                                                      |   | 100% |   | 64.64% |   | 15.57% |
| Testora                    Ltd (10)                                             |   | 3,500,000                                               |   | 10.11%                                               |   | *--*                                                           |   | -- |   | 3.58% |   | 8.55% |
| Capital                    Research and Management Company (11) (17)            |   | 2,109,820                                               |   | 6.09%                                                |   | *--*                                                           |   | *--* |   | 2.16% |   | 5.15% |
| Morgan                    Stanley (12) (18)                                     |   | 2,089,980                                               |   | 6.04%                                                |   | *--*                                                           |   | *--* |   | 2.14% |   | 5.11% |
| Morgan                    Stanley Investment Management, Inc. (12) (18)         |   | 1,784,380                                               |   | 5.15%                                                |   | *--*                                                           |   | *--* |   | 1.83% |   | 4.36% |

----

| * | Less                  than 1.0% |
|---|---------------------------------|

*Page            23*

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*Table            of Contents*

|   | (a) | Does                  not include 6,374,839 shares of Class A Common Stock issuable upon                  conversion of shares of Class B Common Stock. Shares of Class B                  Common                  Stock are convertible at any time into shares of Class A Common                  Stock for                  no additional consideration on a share-for-share                  basis. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Represents                  the percentage of total voting power and the percentage ownership                  of the                  Class A Common Stock and the Class B Common Stock currently beneficially                  owned by each identified shareholder and all directors and executive                  officers as a group. The Class A Common Stock and the Class B Common                  Stock                  are the only authorized classes of our capital stock with shares                  outstanding. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | None                  of the shares of the directors or executive officers are                  pledged. |
|--------|-----|----------------------------------------------------------------------------------------------------------|

| (1) | The                  address of Ronald S. Lauder is Suite 4200, 767 Fifth Avenue, New                  York, New                  York 10153. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Frank                  Ehmer was appointed to the Board of Directors on September 1, 2006.                  Mr.                  Ehmer was a nominee of Apax to the Board of                  Directors. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Herbert                  G. Kloiber was appointed to the Board of Directors on February                  1, 2006. |
|-----|-------------------------------------------------------------------------------------------------------------------|

| (4) | Christian                  Stahl was appointed to the Board of Directors on September 1, 2006.                  Mr.                  Stahl was a nominee of Apax to the Board of                  Directors. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Mr.                  Burke’s term as President and Chief Operating Officer ended on October                  1,                  2006 following his resignation. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | On                  August 1, 2006, Adrian Sarbu was appointed to oversee operations                  in the                  Czech and Slovak Republics in addition to Romania and is a Named                  Executive                  Officer. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | Information                  in respect of the beneficial ownership of Federated Investors,                  Inc. (other                  than percentage ownership) is based upon a statement on Schedule                  13G/A                  filed on February 13, 2007 jointly by Federated Investors, Inc.,                  Voting                  Shares Irrevocable Trust, John F. Donahue, Rhodora J. Donahue and                  J.                  Christopher Donahue. The address of Federated Investors, Inc. Voting                  Shares Irrevocable Trust, John F. Donahue, Rhodora J. Donahue and                  J.                  Christopher Donahue is Federated Investors Tower, Pittsburgh, PA                  15222-3779. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | Information                  in respect of the beneficial ownership of Eric Semler (other than                  percentage ownership) is based upon a statement on Schedule 13G/A                  filed by                  him on December 29, 2006. The address of Mr. Semler is 888 Seventh                  Avenue,                  Suite 1504, New York, New York                  10019. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (9) | Information                  in respect of the beneficial ownership of Apax Partners Europe                  Managers                  Limited and Apax Europe VI GP Co. Limited (other than percentage                  ownership) is based upon a statement on Schedule 13D jointly filed                  by them                  on September 6, 2006. The                  address of Apax Partners Europe Managers Limited is 15 Portland                  Place,                  London, England W1B 1PT, United Kingdom. The address of Apax Europe                  VI GP                  Co. Limited is 13-15 Victoria Road, St. Peter Port, Guernsey, Channel                  Islands GYI 3ZD. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (10) | Information                  in respect of the beneficial ownership of Testora Limited (other                  than                  percentage ownership) is based upon a statement on Schedule 13G                  filed by                  it on January 11, 2006. The address of Testora Limited is Grigori                  Afxentiou, 8, El.Pa. Livadioti, Flat/Office 401, P.C. 6023, Larnaca,                  Cyprus. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (11) | Information                  in respect of the beneficial ownership of Capital Research and                  Management                  Company (other than percentage ownership) is based upon a statement                  on                  Schedule 13G filed by it on February 12, 2007. The address of Capital                  Research and Management Company is 333 South Hope Street, Los Angeles,                  CA                  90071. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Page            24*

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*Table            of Contents*

| (12) | Information                  in respect of the beneficial ownership of Morgan Stanley and Morgan                  Stanley Investment Management Inc. (other than percentage ownership)                  is                  based upon a statement on Schedule 13G jointly filed on February                  15, 2007.                  Morgan Stanley Investment Management Inc. is a wholly-owned subsidiary                  of                  Morgan Stanley. The address of Morgan Stanley is 1585 Broadway,                  New York,                  NY 10036. The address of Morgan Stanley Investment Management Inc.                  is 1221                  Avenue of the Americas, New York, NY                  10020. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (13) | In                  a Schedule 13D/A filed by Mr. Lauder on September 8, 2006, Mr.                  Lauder                  reported that he, RSL Investments Corporation (“RIC”), RSL Investment LLC                  (“RIL”) and CME Holdco, L.P. each have joint beneficial ownership with                  Apax Partners Europe Managers Limited and Apax Europe VI G.P. Limited                  of                  6,312,839 shares of Class B Common Stock and 60,000 shares of Class                  A                  Common Stock. RIC is a holding company for various investments                  of Mr.                  Lauder. Mr. Lauder is the sole shareholder of RIC. Mr. Lauder is                  the sole                  Director and Chairman of RIC. RIC is the sole member of RIL. Mr.                  Lauder is                  President of RIL. RIL is sole general partner of CME Holdco, L.P.                  On                  August 28, 2006, Mr. Lauder, RIC, RIL and certain others entered                  into a                  purchase agreement with Adele Guernsey L.P. Pursuant to that agreement,                  Mr. Lauder, RSL, RIC, RIL and others contributed all 6,312,839                  outstanding                  shares of Class B Common Stock and 60,000 shares of Class A Common                  Stock                  to CME Holdco, acquiring 100% of the partnership interest therein.                  Mr.                  Lauder and such other persons went on to sell limited partnership                  interests to Adele Guernsey L.P, aggregating approximately 49.72%                  of the                  total partnership interests in CME Holdco. In addition, Mr. Lauder                  directly owns currently exercisable options to purchase 48,300                  shares of                  Class B Common Stock. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (14) | Federated                  Investors, Inc. (“Parent”) is the parent holding company of Federated                  Equity Management Company of Pennsylvania and Federated Global                  Investment                  Management Corp. (the “Investment Advisers”), which act as investment                  advisers to registered investment companies and separate accounts                  that own                  shares of common stock in Central European Media Enterprises Ltd..                  All of                  the Parent’s outstanding voting stock is held in the Voting Shares                  Irrevocable Trust, for which John F. Donahue, Rhodora J. Donahue                  and J.                  Christopher Donahue act as trustees. The trustees have collective                  voting                  control over the Parent. According to the Schedule 13G/A filed                  on February                  13, 2007, each of the Parent and the Trust has sole voting power                  and sole                  dispositive power over 3,117,988 shares of Class A Common Stock                  and each                  of the Donahues has shared voting power and shared dispositive                  power over                  3,117,988 shares of Class A Common                  Stock. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (15) | Mr.                  Semler has sole power to vote and to dispose of these shares which                  consist                  of (i) 1,814,379 shares held for the account of TCS Capital Investments;                  (ii) 154,105 shares held for the account of TCS Capital; (iii)                  964,401                  shares held for the account of TCS Capital II; and (iv) 19,800                  shares held                  for the account of TCS Select. TCS Capital GP, LLC, a Delaware                  limited                  liability company (“TCS Capital GP”) acts as general partner to each of                  TCS Capital Investments, TCS Capital and TCS Capital II. TCS Select                  GP,                  LLC (“TCS Select GP”), acts as general partner to TCS Select. Mr. Semler                  is manager of TCS Capital GP and TCS Select GP. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (16) | Apax                  Partners Europe Managers Limited (“Apax”), a company organized under the                  laws of England, owns all of the issued share capital of APAX WW                  Nominees                  Limited (“Apax WW Nominees”) and APAX WW No. 2 Nominees Limited (“Apax WW                  No. 2 Nominees”). Apax WW Nominees and Apax WW No. 2 Nominees are the                  registered owners of 100% of the share capital of Adele (Guernsey)                  GP                  Limited (“Adele GP”). Apax Europe VI GP Co. Limited, a Guernsey company,                  is the general partner of Apax Europe VI GP, L.P. Inc. Apax Europe                  VI GP,                  L.P. Inc is the general partner of Apax Europe VI-A, L.P. and Apax                  Europe                  VI-1, L.P (“the Europe VI Funds”). The Europe VI Funds are collectively                  the beneficial owner of 100% of Adele GP. Adele GP is the general                  partner                  of Adele (Guernsey) L.P. In the Schedule 13D filed by Apax on September                  6,                  2006, Apax and Apax Europe VI GP Co. Limited are reported as having                  shared                  voting power over 60,000 shares of Class A Common Stock and 6,312,839                  shares of Class B Common Stock. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Page            25*

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| (17) | In                  the Schedule 13G filed on February 12, 2007, Capital Research and                  Management Company reported that it is a registered investment                  adviser                  that does not own any shares in the Company for its own account                  but is                  deemed to be a beneficial owner as it acts as an investment advisor                  to a                  group of mutual funds that own our                  shares. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (18) | In                  the Schedule 13G filed on February 15, 2007, Morgan Stanley reports                  that                  it has sole dispositive power over 2,089,980 shares of Class A                  Common                  Stock and sole voting power over 1,950,380 shares of Class A Common                  Stock.                  Morgan Stanley Investment Management Inc. reports that it has sole                  dispositive and sole voting power over 1,784, 380 shares of Class                  A Common                  Stock. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (19) | Consists                  of (i) 120,000 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $19.49 per share and expire on February 1, 2014;                  and                  (ii) 7,500 shares of Class A Common Stock underlying options which                  are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $44.50 per share and expire on June 1, 2015.                  Does not                  include (i) 40,000 shares of Class A Common Stock underlying options                  with                  an exercise price of $19.49 per share which are not currently exercisable                  and will not become exercisable within 60 days and expire on February                  1,                  2014; (ii) 22,500 shares of Class A Common Stock underlying options                  with                  an exercise price of $44.50 per share which are not currently exercisable                  and will not become exercisable within 60 days and expire on June                  1, 2015;                  (iii) 20,000 shares of Class A Common Stock underlying options                  with an                  exercise price of $56.42 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on June 7,                  2016; and                  (iv) 80,000 shares of Class A Common Stock underlying options with                  an                  exercise price of $60.64 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on July 27,                  2016. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (20) | Consists                  of (i) 3,200 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $1.958 per share and expire on May 15, 2012;                  (ii) 3,200                  shares of Class A Common Stock underlying options which are currently                  exercisable, or will become exercisable within 60 days, at an exercise                  price of $10.897 per share and expire on May 21, 2013; (iii) 4,000                  shares                  of Class A Common Stock underlying options which are currently                  exercisable, or will become exercisable within 60 days, at an exercise                  price of $22.11 per share and expire on June 1, 2014; and (iv)                  1,500                  shares of Class A Common Stock underlying options which are currently                  exercisable, or will become exercisable within 60 days, at an exercise                  price of $44.50 per share and expire on June 1, 2015. Does not                  include (i)                  3,200 shares of Class A Common Stock underlying options with an                  exercise                  price of $10.897 per share which are not currently exercisable                  and will                  not become exercisable within 60 days and expire on May 21, 2013;                  (ii)                  8,000 shares of Class A Common Stock underlying options with an                  exercise                  price of $22.11 per share which are not currently exercisable and                  will not                  become exercisable within 60 days and expire on June 1,** **2014;                  (iii) 4,500 shares of Class A Common Stock underlying options with                  an                  exercise price of $44.50 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on June 1,                  2015; and                  (iv) 6,000 shares of Class A Common Stock underlying options with                  an                  exercise price of $58.85 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on June 6,                  2016. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (21) | Consists                  of (i) 16,000 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $1.958 per share and expire on May 15, 2012;                  (ii) 12,800                  shares of Class A Common Stock underlying options which are currently                  exercisable, or will become exercisable within 60 days, at an exercise                  price of $10.897 per share and expire on May 21, 2013; (iii) 8,000                  shares                  of Class A Common Stock underlying options which are currently** **exercisable,                  or will become exercisable within 60 days, at an exercise price                  of $22.11                  per share and expire on June 1, 2014; and (iv) 1,500 shares of                  Class A                  Common Stock underlying options which are currently exercisable,                  or will                  become exercisable within 60 days, at an exercise price of $44.50                  per                  share and expire on June 1, 2015. Does not include (i) 3,200 shares                  of                  Class A Common Stock underlying options with an exercise price                  of $10.897                  per share which are not currently exercisable and will not become                  exercisable within 60 days and expire on May 21, 2013; (ii) 8,000                  shares                  of Class A Common Stock underlying options with an exercise price                  of                  $22.11 per share which are not currently exercisable and will not                  become                  exercisable within 60 days and expire on June 2, 2014; (iii) 4,500                  shares                  of Class A Common Stock underlying options with an exercise price                  of                  $44.50 per share which are not currently exercisable and will not                  become                  exercisable within 60 days and expire on June 1, 2015; and (iv)                  6,000                  shares of Class A Common Stock underlying options with an exercise                  price                  of $58.85 per share which are not currently exercisable and will                  not                  become exercisable within 60 days and expire on June 6, 2016. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Page            26*

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| (22) | Does                  not include 6,000 shares of Class A Common Stock underlying options                  with                  an exercise price of $58.85 per share which are not currently exercisable                  and will not become exercisable within 60 days and expire on June                  6,                  2016. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (23) | Consists                  of (i) 4,000 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $0.294* *per                  share and expire on April 18, 2011; (ii) 9,600 shares of Class                  A Common                  Stock underlying options which are currently exercisable, or will                  become                  exercisable within 60 days, at an exercise price of $1.958 per                  share and                  expire on May 15, 2012; (iii) 9,600 shares of Class A Common Stock                  underlying options which are currently exercisable, or will become                  exercisable within 60 days, at an exercise price of $10.897 per                  share and                  expire on May 21, 2013; (iv) 8,000 shares of Class A Common Stock                  underlying options which are currently exercisable, or will become                  exercisable within 60 days, at an exercise price of $22.11 per                  share and                  expire on June 1, 2014; and (v) 1,500 shares of Class A Common                  Stock                  underlying options which are currently exercisable, or will become                  exercisable within 60 days, at an exercise price of $44.50 per                  share and                  expire on June 1, 2015. Does not include (i) 3,200 shares of Class                  A                  Common Stock underlying options with an exercise price of $10.897                  per                  share which are not currently exercisable and will not become exercisable                  within 60 days and expire on May 21, 2013; (ii) 8,000 shares of                  Class A                  Common Stock underlying options with an exercise price of $22.11                  per share                  which are not currently exercisable and will not become exercisable                  within                  60 days and expire on June 1, 2014; (iii) 4,500 shares of Class                  A Common                  Stock underlying options with an exercise price of $44.50 per share                  which                  are not currently exercisable and will not become exercisable within                  60                  days and expire on June 1, 2015; and (iv) 6,000 shares of Class                  A Common                  Stock underlying options with an exercise price of $58.85 per share                  which                  are not currently exercisable and will not become exercisable within                  60                  days and expire on June 6, 2016. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (24) | Consists                  of (i) 4,800 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $10.897 per share and expire on May 21, 2013;                  (ii) 8,000                  shares of Class A Common Stock underlying options which are currently                  exercisable, or will become exercisable within 60 days, at an exercise                  price of $22.11 per share and expire on June 1, 2014; and (iii)                  1,500                  shares of Class A Common Stock underlying options which are currently                  exercisable, or will become exercisable within 60 days, at an exercise                  price of $44.50 per share and expire on June 1, 2015. Does not                  include (i)                  3,200 shares of Class A Common Stock underlying options with an                  exercise                  price of $10.897 per share which are not currently exercisable                  and will                  not become exercisable within 60 days and expire on May 21, 2013;                  (ii)                  8,000 shares of Class A Common Stock underlying options with an                  exercise                  price of $22.11 per share which are not currently exercisable and                  will not                  become exercisable within 60 days and expire on June 1, 2014; (iii)                  4,500                  shares of Class A Common Stock underlying options with an exercise                  price                  of $44.50 per share which are not currently exercisable and will                  not                  become exercisable within 60 days and expire on June 1, 2015; and                  (iv)                  6,000 shares of Class A Common Stock underlying options with an                  exercise                  price of $58.85 per share which are not currently exercisable and                  will not                  become exercisable within 60 days and expire on June 6,                  2016. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Page            27*

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| (25) | Consists                  of (i) 4,000 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $22.11 per share and expire on June 1, 2014;                  and (ii)                  1,500 shares of Class A Common Stock underlying options which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $44.50 per share and expire on June 1, 2015.                  Does not                  include (i) 8,000 shares of Class A Common Stock underlying options                  with                  an exercise price of $22.11 per share which are not currently exercisable                  and will not become exercisable within 60 days and expire on June                  1, 2014;                  (ii) 4,500 shares of Class A Common Stock underlying options with                  an                  exercise price of $44.50 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on June 1,                  2015; and                  (iii) 6,000 shares of Class A Common Stock underlying options with                  an                  exercise price of $58.85 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on June 6,                  2016. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (26) | Consists                  of (i) 8,000 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $22.11 per share and expire on June 1, 2014;                  and (ii)                  1,500 shares of Class A Common Stock underlying options which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $44.50 per share and expire on June 6, 2015.                  Does not                  include (i) 8,000 shares of Class A Common Stock underlying options                  with                  an exercise price of $22.11 per share which are not currently exercisable                  and will not become exercisable within 60 days and expire on June                  1, 2014;                  (ii) 4,500 shares of Class A Common Stock underlying options with                  an                  exercise price of $44.50 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on June 1,                  2015; and                  (iii) 6,000 shares of Class A Common Stock underlying options with                  an                  exercise price of $58.85 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on June 6,                  2016. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (27) | Consists                  of (i) 5,000 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $10.365 per share and expire on May 21, 2013;                  (ii)                  20,000 shares of Class A Common Stock underlying options which                  are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $18.93 per share and expire on May 4, 2014; and                  (iii)                  2,500 shares of Class A Common Stock underlying options which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $44.50 per share and expire on June 1, 2015.                  Does not                  include (i) 7,500 shares of Class A Common Stock underlying options                  with                  an exercise price of $44.50 per share which are not currently exercisable                  and will not become exercisable within 60 days and expire on June                  1, 2015;                  (ii) 8,000 shares of Class A Common Stock underlying options with                  an                  exercise price of $56.42 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on June 7,                  2016; and                  (iii) 12,500 shares of Class A Common Stock underlying options                  with an                  exercise price of $72.05 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on December                  13,                  2016. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (28) | Consists                  of (i) 4,000 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $32.99 per share and expire on November 17, 2014;                  and                  (ii) 1,000 shares of Class A Common Stock underlying options which                  are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $57.00 per share and expire on December 20, 2015.                  Does                  not include (i) 4,000 shares of Class A Common Stock underlying                  options                  with an exercise price of $32.99 per share which are not currently                  exercisable and will not become exercisable within 60 days and                  expire on                  November 17, 2014; (ii) 3,000 shares of Class A Common Stock underlying                  options with an exercise price of $57.00 per share which are not                  currently                  exercisable and will not become exercisable within 60 days and                  expire on                  December 20, 2015; and (iii) 8,000 shares of Class A Common Stock                  underlying options with an exercise price of $56.42 per share which                  are                  not currently exercisable and will not become exercisable within                  60 days                  and expire on June 7, 2016. |
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| (29) | Consists                  of (i) 4,833 shares of Class A Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $32.80 per share and expire on November 21, 2014;                  (ii)                  3,750 shares of Class A Common Stock underlying options which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $44.50 per share and expire on June 1, 2015;                  and (iii)                  3,125 shares of Class A Common Stock underlying options which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $64.81 per share and expire on April 30, 2016.                  Does not                  include (i) 6,667 shares of Class A Common Stock underlying options                  with                  an exercise price of $32.80 per share which are not currently exercisable                  and will not become exercisable within 60 days and expire on November                  21,                  2014; (ii) 11,250 shares of Class A Common Stock underlying options                  with                  an exercise price of $44.50 per share which are not currently exercisable                  and will not become exercisable within 60 days and expire on June                  1, 2015;                  (iii) 9,375 shares of Class A Common Stock underlying options with                  an                  exercise price of $64.81 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on April                  30, 2016;                  and (iv) 12,500 shares of Class A Common Stock underlying options                  with an                  exercise price of $87.91 per share which are not currently exercisable                  and                  will not become exercisable within 60 days and expire on April                  1,                  2017. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (30) | Consists                  of 443,908 shares of Class A Common Stock underlying options which                  are                  currently exercisable or will become exercisable within 60 days.                  Does not                  include 367,092 shares of Class A Common Stock underlying options                  which                  are not currently exercisable and will not become exercisable within                  60                  days. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (31) | Consists                  of (i) 2,000 shares of Class B Common Stock underlying options                  which are                  currently exercisable, or will become exercisable within 60 days,                  at an                  exercise price of $0.26 per share and 8,000 shares of Class B Common                  Stock                  underlying options which are currently exercisable, or will become                  exercisable within 60 days at an exercise price of $0.308 per share                  and                  expire on May 18, 2011; (ii) 16,000 shares of Class B Common Stock                  underlying options which are currently exercisable, or will become                  exercisable within 60 days, at an exercise price of $2.0558 per                  share and                  expire on May 15, 2012; (iii) 12,800 shares of Class B Common Stock                  underlying options which are currently exercisable, or will become                  exercisable within 60 days, at an exercise price of $11.44 per                  share and                  expire on May 21, 2013; (iv) 8,000 shares of Class B Common Stock                  underlying options which are currently exercisable, or will become                  exercisable within 60 days, at an exercise price of $23.22 per                  share and                  expire on June 1, 2014; and (v) 1,500 shares of Class B Common                  Stock                  underlying options which are currently exercisable, or will become                  exercisable within 60 days, at an exercise price of $46.725 per                  share and                  expire on June 1, 2015. Does not include (i) 3,200 shares of Class                  B                  Common Stock underlying options with an exercise price of $11.44                  per share                  which are not currently exercisable and will not become exercisable                  within                  60 days, and expire on May 21, 2013; (ii) 8,000 shares of Class                  B Common                  Stock underlying options with an exercise price of $23.22 per share                  which                  are not currently exercisable and will not become exercisable within                  60                  days and expire on June 1, 2014; (iii) 4,500 shares of Class B                  Common                  Stock underlying options with an exercise price of $46.725 per                  share which                  are not currently exercisable and will not become exercisable within                  60                  days and expire on June 1, 2015; and (iv) 6,000 shares of Class                  B Common                  Stock underlying options with an exercise price of $61.79 per share                  which                  are not currently exercisable and will not become exercisable within                  60                  days and expire on June 6, 2016. |
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*Page            29*

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**Equity        Compensation Plan Information**

| Equity                      Compensation Plan Information                             |   |
|---------------------------------------------------------------------------------------|--------|
|                                                                                  |   | (a) |   | (b) |   | (c) |   |
| Plan                      Category                                                    |   | Number                      of Securities to be issued upon exercise of outstanding options,                      warrants                      and rights |   | Weighted                      average exercise price of outstanding options, warrants and                      rights |   | Number                      of securities remaining available for future issuance under                      equity                      compensation plans (excluding securities reflected in column                      (a)) |   |
| Equity                      compensation plans approved by security holders      |   | 1,288,575(1) |   | $35.51 |   | 1,003,588(2) |   |
| Equity                      compensation plans not approved by security holders  |   | 0(3) |   | -- |   | 1,000,000 |   |
| Total                                                                            |   | 1,288,575 |   | $35.51 |   | 2,003,588 |   |

|   | (1) | This                  number consists of options outstanding at December 31, 2006 under                  the 1995                  Plan. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | This                  number includes the aggregate number of shares of Common Stock                  that                  remains available for future issuance, at December 31, 2006 under                  the                  Company’s shareholder approved equity compensation plans, consisting of                  1,003,588 shares available under the 1995 Plan. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | The                  Company’s 1998 Stock Appreciation Rights Plan allows the Company to grant                  up to 1,000,000 SARs. The SARs are subject to substantially the                  same                  general conditions as apply to options granted under the 1995 Plan.                  When                  SARs are exercised, the grantee will receive in cash the amount                  by which                  the Company’s stock price exceeds a base price fixed by the Compensation                  Committee at the time of grant. There were no SARs outstanding                  at December                  31, 2006. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Page            30*

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**ITEM        13.   CERTAIN RELATIONSHIPS        AND RELATED        TRANSACTIONS, AND DIRECTOR INDEPENDENCE**

**Certain        Relationships and Related Transactions**

*Review        and Approval of Related Party Transactions*

*Related        Party Transactions*

***Herbert        Kloiber***

***Adrian        Sarbu***

*Page            31*

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**Director        Independence**

*Page            32*

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**ITEM        14. PRINCIPAL ACCOUNTANT FEES AND SERVICES**

**Audit        Fees**

**Audit-Related        Fees**

**Tax        Fees**

**All        other Fees **

*Page            33*

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**EXHIBIT        INDEX**

| **Exhibit                  Number** |   | **Description**                                                                                                     |
|-------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------|
|                                |   |                                                                                                                |
| 31.01                               |   | Sarbanes-Oxley                  Certification s.302 CEO, dated April 30, 2007                                       |
|                                |   |                                                                                                                |
| 31.02                               |   | Sarbanes-Oxley                  Certification s.302 CFO, dated April 30, 2007                                       |
|                                |   |                                                                                                                |
| 32.01                               |   | Sarbanes-Oxley                  Certification - CEO and CFO, dated April 30, 2007 (furnished                  only) |

**SIGNATURES        **

|   | Central                    European Media Enterprises Ltd.              |
|--------|-------------------------------------------------------------------------|
|   | By:                    /s/ Wallace Macmillan                            |
|   | Wallace                    Macmillan                                    |
|   | Chief                    Financial Officer                              |
|   | (Principal                    Financial Officer and Accounting Officer) |
|   |                                                |
|   | April                    30, 2007                                       |

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