Agora to sell its stake in TV station

WSE-listed media group Agora signed a letter of intent with Kino Polska TV regarding selling its stake in the TV channel Stopklatka. “According to the letter of intent, Agora and Kino Polska shall negotiate the rules and conditions of the potential transaction. The letter does not constitute a binding commitment of Agora and Kino Polska to carry out the transaction and is valid until June 30, 2018. Currently, Agora holds 41.14 percent stake in Stopklatka, while Kino Polska controls 41.5 percent. If the sale goes through, it would result in discontinuation of Agora's television activity, as it sold its stake in another TV station Metro TV to Discovery Communications last year.