Sec Form 4 Filing - TCS CAPITAL MANAGEMENT LLC @ CENTRAL EUROPEAN MEDIA ENTERPRISES LTD - 2017-07-10

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 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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1. Name and Address of Reporting Person TCS CAPITAL MANAGEMENT LLC 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) _____ Director _____ 10% Owner _____ Officer (give title below) X __ Other (specify below) See Footnote 1 (Last) (First) (Middle) 888 SEVENTH AVENUE, SUITE 1504 3. Date of Earliest Transaction (MM/DD/YY) 07/10/2017 (Street) NEW YORK, NY10019 4. If Amendment, Date Original Filed (MM/DD/YY) 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 (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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, $0.08 par value ( 1 ) 07/10/2017 S 3,960,928 D $ 4.05 13,137,023 I By TCS Global Equity Master Fund, L.P. ( 2 ) Class A Common Stock, $0.08 par value ( 1 ) 07/10/2017 S 1,039,072 D $ 4.05 0 I By Managed Account of TCS Capital Management, LLC ( 3 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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 o r Number of Shares Common Stock Warrants (right to buy) ( 1 ) $ 1 05/02/2016 05/02/2018 Class A Common Stock, $0.08 par value 1,113,861 1,113,861 I By TCS Global Equity Master Fund, L.P. ( 2 ) Common Stock Warrants (right to buy) ( 1 ) $ 1 05/02/2016 05/02/2018 Class A Common Stock, $0.08 par value 65,583 65,583 I By Managed Account of TCS Capital Management, LLC ( 3 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other TCS CAPITAL MANAGEMENT LLC 888 SEVENTH AVENUE SUITE 1504 NEW YORK, NY10019 See Footnote 1 TCS Global Equity Master Fund, L.P. GARDENIA COURT, SUITE 337 45 MARKET STREET, P.O. BOX 896GT CAMANA BAY, E9KY1-1103 See Footnote 1 TCS Capital GP, LLC 888 SEVENTH AVENUE SUITE 1504 NEW YORK, NY10019 See Footnote 1 SEMLER ERIC C/O TCS CAPITAL MANAGEMENT, LLC 888 SEVENTH AVENUE, SUITE 1504 NEW YORK, NY10019 See Footnote 1 Signatures TCS Capital Management, LLC, By: /s/ Eric Semler, Managing Member 07/12/2017 Signature of Reporting Person Date TCS Global Equity Master Fund, L.P., By: TCS Capital GP, LLC, By: /s/ Eric Semler, Managing Member 07/12/2017 Signature of Reporting Person Date TCS Capital GP, LLC, By: /s/ Eric Semler, Managing Member 07/12/2017 Signature of Reporting Person Date /s/ Eric Semler 07/12/2017 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This Form 4 is filed jointly by TCS Global Equity Master Fund, L.P. ("TCS Global"), TCS Capital GP, LLC ("TCS GP"), TCS Capital Management, LLC ("TCS Management"), and Eric Semler (collectively, the "Reporting Persons"). Each Reporting Person may be deemed to be a member of a Section 13(d) group that previously owned more than 10% of the Issuer's outstanding shares of Common Stock. As of July 10, 2017, the Reporting Persons ceased to own in the aggregate more than 10% of the Issuer's outstanding shares of Common Stock. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. ( 2 )Securities held directly by TCS Global. TCS Management, as the investment manager of TCS Global, may be deemed to beneficially own the securities held directly by TCS Global. TCS GP, as the general partner of TCS Global, may be deemed to beneficially own the securities held directly by TCS Global. Mr. Semler, as the Managing Member of each of TCS GP and TCS Management, may be deemed to beneficially own the securities held directly by TCS Global. ( 3 )Securities held directly in a certain managed account (the "Managed Account"). TCS Management, as the investment manager of the Managed Account, may be deemed to beneficially own the securities held in the Managed Account. Mr. Semler, as the Managing Member of TCS Management, may be deemed to beneficially own the securities held in the Managed Account.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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