Miura Global Management Loves Zoe’s Kitchen Inc (ZOES) Even More Now; Eric Semler Ups Stake In Central European Media Enterprises Ltd. (CETV)

TCS Capital Management is a also a New York-based long/short equity hedge fund that was founded in 2001 by Eric Semler, who holds an MBA from Harvard University. Prior to founding TCS Capital, Mr. Semler served as Managing Director of WaterView Advisors, L.L.C. The fund employs a bottom-up stock picking approach and mainly invests in the telecom and media sector. At the end of June, TCS Capital Management’s equity portfolio was worth slightly above $197 million and contained around 40 holdings.

Central European Media Enterprises Ltd. (NASDAQ:CETV) is a Czech-based broadcasting company that operates 33 TV channels across Croatia, Slovak Republic, Bulgaria, Slovenia, the Czech Republic and Romania. After a private placement and rights offering in May 2014, it was revealed that Time Warner Inc (NYSE:TWX) owned almost 75% of the company on a diluted basis. Central European Media Enterprises Ltd. (NASDAQ:CETV)’s stock has lost 90% of its value in the past five years and this year alone it has slid by some 32%. For the second quarter of fiscal 2015, the company reported a loss of $0.11 per share and revenue of $166.83 million, compared to a loss of $0.32 and revenue of $204.87 million delivered a year earlier. Apart from TCS Capital, Rob Citrone‘s Discovery Capital Management was among the top shareholders of Central European Media Enterprises Ltd. (NASDAQ:CETV), owning almost 4.7 million shares at the end of June.

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