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 *
LAUDER RONALD S
   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)
767 FIFTH AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
04/02/2012
(Street)

NEW YORK, NY 10153		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ 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               17,622,364 I By Time Warner Media Holdings B.V. (1)

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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
Option: Right to Buy $ 2.0558 04/02/2012   M     16,000 05/15/2007(2) 05/15/2012 Class B Common Stock 16,000 $ 0 0 (3) D  
Class B Common Stock (4) 04/02/2012   M   16,000     (4)   (4) Class A Common Stock 16,000 $ 2.0558 26,000 D  
Class B Common Stock (4)               (4)   (4) Class A Common Stock 4,500,000   4,500,000 I By TW Holdings BV (5)
Class B Common Stock (4)               (4)   (4) Class A Common Stock 2,885,705   2,885,705 I By RSL Investments Corporation (6)
Class B Common Stock (4)               (4)   (4) Class A Common Stock 105,231   105,231 I By RAJ Family Partners, L.P. (7)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LAUDER RONALD S
767 FIFTH AVENUE
NEW YORK, NY 10153		   X   X    

Signatures

 /s/ Meredith Steinhaus on behalf of Ronald S. Lauder   04/03/2012
**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 Reporting Person, Ronald S. Lauder ("RSL"), and RSL Savannah, LLC, the sole member of which is RSL ("RSL Savannah"), each beneficially own 17,622,364 shares of Class A Common Stock that are held directly by Time Warner Media Holdings B.V. ("TW Holdings BV"), over which RSL Savannah has a proxy to vote such shares pursuant to and in accordance with that certain Irrevocable Voting Deed and Corporate Representative Appointment, by and among TW Holdings BV, the Reporting Person, RSL Savannah and the Issuer, dated May 18, 2009 (the "Voting Agreement").
(2) The options vested in instalments and the final tranche vested on May 15, 2007.
(3) Does not include options held by RSL to acquire 69,000 shares of Class B Common Stock, which are currently exercisable, or options held by RSL to acquire 30,000 shares of Class A Common Stock, of which 20,000 are currently exercisable.
(4) Shares of Class B Common Stock are convertible at any time at the option of the holders on a one-for-one basis into shares of Class A Common Stock for no additional consideration. There is no expiration date for this conversion right.
(5) RSL and RSL Savannah, each beneficially own 4,500,000 shares of Class B Common Stock that are held directly by TW Holdings BV, over which RSL Savannah has a proxy to vote such shares pursuant to and in accordance with the Voting Agreement.
(6) RSL is the beneficial owner of 2,885,705 shares of Class B Common Stock, which are held directly by RSL Investments Corporation, the sole shareholder of which is RSL.
(7) RSL is the beneficial owner of 105,231 shares of Class B Common Stock, which are held directly by RAJ Family Partners, L.P., the managing general partner of which is RAJ Family Corporation, of which RSL is Chairman and President.

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