Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
TIME WARNER INC.
   2. Issuer Name and Ticker or Trading Symbol
CENTRAL EUROPEAN MEDIA ENTERPRISES LTD [CETV] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
ONE TIME WARNER CENTER, 		 3. Date of Earliest Transaction (Month/Day/Year)
07/03/2012
(Street)

NEW YORK, NY 10019		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 07/03/2012   A(1)   874,819 A $ 7.51 32,898,443 I By Subsidiary (2)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series A Convertible Preferred Stock (3) 07/03/2012   A(3)   1     (3)   (3) Class A Common Stock 11,211,449 $ 84,197,981.99 1 I By Subsidiary (2)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
TIME WARNER INC.
ONE TIME WARNER CENTER
NEW YORK, NY 10019		   X   X    
TW Media Holdings LLC
ONE TIME WARNER CENTER
NEW YORK, NY 10019		   X   X    
Time Warner Media Holdings B.V.
NARITAWEG 237
1043 CB
AMSTERDAM, P7 		   X   X    

Signatures

 Edward B. Ruggiero, Senior Vice President & Treasurer of Time Warner Inc.   07/05/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The shares were acquired pursuant to a Subscription and Equity Commitment Agreement dated as of April 30, 2012 (the "Subscription Agreement") by and between the Issuer and Time Warner Media Holdings B.V. ("TW BV").
(2) TW BV is a wholly-owned subsidiary of TW Media Holdings LLC, which is a wholly-owned subsidiary of Time Warner Inc.
(3) The share was acquired pursuant to the Subscription Agreement. The share will be automatically converted into 11,211,449 shares of Class A Common Stock for no additional consideration on the date that is 61 days after the date on which the number of outstanding shares of Class A Common Stock owned by TW BV (assuming the conversion of the Series A Preferred Stock), when aggregated with the outstanding shares of Class A Common Stock of any "group" (as defined in Section 13d-3 of the Securities Exchange Act of 1934, as amended (the "Act")) that includes TW BV and its affiliatess, would not result in TW BV being a "beneficial owner" (as defined in Section 13d-3 of the Act) of more than 49.9% of the outstanding shares of Class A Common Stock.
 
Remarks:
Remarks:  See Exhibit 99 - Joint Filer Agreement.  TW BV may be deemed a director of the Issuer by virtue of its right to nominate two representatives to serve on the Issuer's board of directors.  Messrs. Paul Cappuccio and Michael Del Nin currently serve as TW BV's representatives on the Issuer's board.

Exhibit List:  Exhibit 99 - Joint Filer Agreement

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