Agora enters new markets; buys Proszynski Czasopismo

Agora S.A., the owner of Gazeta Wyborcza, has paid zl. 72.7 billion for the purchase of Proszynski i S-ka Czasopismo. In this way Agora S.A. has a cquired 12 magazine titles including "Poradnik Domowy", "Cztery Katy", and "Wiedza i Zycie". Their average annual circulation is 1.8 million copies, with total revenues which amounted to zl 63.3 million last year. Nearly half of this sum comes from sales of advertising space. Their share in the advertisement market currently stands at 4%, and reaches five million readers. "The purchase of Proszynski Czasopismo means that Agora is entering a new market segment dominated by foreign publishers," said Agora's ma nagement board member Zbignew Bak. The publisher announced that it does not plan any immediate lay-offs in the newly acquired company which has a staff of 224. Agora is one of the largest media companies in Poland. It has been listed on the Warsaw and London stock exchanges since 1999 and it currently has 3,200 employees. (Gazeta Wyborcza, April 20-21, p. 27) A.Z.