London-based buyout firm Apax Partners is set to pay $190m (€148.9m) in cash for a minority stake in a central and eastern European television broadcaster amid fresh interest in the media sector from private equity houses.

Apax will buy a total 7.8% stake in Central European Media Enterprises from Ronald Lauder, the company's non-executive chairman, and related parties. The purchase will represent 49.7% of the Lauder family's minority holding in Central.