Agora eyes new investments

The country's top media firm Agora last week said it would have the opportunity to purchase a nationwide television network after the government changed the sector's consolidation bill. Agora said last month that it had dropped plans to buy a TV network in 2002 because of an unclear legislative environment, but this week the government scaled down limits on the consolidation of private media firms. "Our current market share, calculated in the way that the government proposes, is lower than the 30% (threshold), and we will now have the opportunity to purchase a nationwide TV station," said deputy chief executive Piotr Niemczycki. Agora had planned to invest zł. 1.5 billion ($366 million) in purchasing TV assets. Niemczycki declined to elaborate on the time frame for any potential purchase or takeover target, but Polish newspapers have signaled for months that Agora was aiming for the country's top private television network Polsat. The media bill, yet to be approved by Parliament and the president, would allow publishers of dailies to acquire a national TV station only if their combined nationwide and regional market shares did not exceed 30%. Agora said its market share in both national and regional markets was below 20%. - Reuters