Axel Springer moves to embrace the Polish TV market

2006-12-12 10:03
2006-12-12 10:03
It has also been announced that the price Axel Springer is offering could rise by E50 (zł.191) million by the end of 2008, when Polsat is due to debut on the stock exchange, depending on the stock‘s value at that time. To go ahead, the transaction needs to gain approval from the Office of Competition and Consumer Protection (UOKiK), and Axel Springer must carry out due-diligence procedures.

Since Poland‘s accession to the EU, international companies can invest in Poland‘s media industry without any limitations. Therefore, the National Broadcasting Council (KRRiT) does not have the right to investigate the transaction. However, one of KRRiT's council members has expressed concern about excessive media consolidation in Poland.

Lech Haydukiewicz from KRRiT pointed out in a written statement to the Polish Press Agency (PAP) that in cases that threaten to significantly limit market competition, the president of UOKiK has the option to block a share acquisition.

Meanwhile, News Corporation, which belongs to Rupert Murdoch, has announced the possibility of increasing its 25-percent stake in TV Puls if the channel‘s TV license could be switched from the ’special‘ to the ’universal‘ type. TV Puls is currently owned by an order of Franciscans and is required to designate 70 percent of its airplay to religious and social topics.

Piotr Paciorek

Axel Springer, one of the biggest press publishers in Europe, has signed an agreement to purchase 25.1 percent of the Polsat television broadcaster for E250 (zł.954) million. If the deal survives scrutiny by Poland‘s anti-monopoly organ, the German media company will have two representatives on Polsat‘s supervisory board, but won‘t appoint anyone to its managing board.
Zapytaj eksperta o kredyt hipoteczny

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