Competition for purchase of Polsat shares heats up

Three international firms and one Polish company are interested in buying a minority stake in leading private television company Polsat, majority owner Zygmunt Solorz-Zak said yesterday. Polsat, which controls two terrestrial channels and owns a digital platform, sent information memoranda earlier this year to seven companies on the possible sale of a 33% stake. "Four firms were interested and we have invited them for further negotiations. There is one Polish company among the firms," said Solorz in an interview. He declined to reveal any further details. Local media have reported the memoranda were sent to Agora, Bertelsmann of Germany, Rupert Murdoch's News Corp, France's Vivendi Universal, AOL Time Warner and Disney of the US, as well as Italy's Mediaset. Sources close to the potential sale also said the group might have included investment funds or banks, but Solorz declined to comment. Analysts estimate the value of the Polsat stake at around $150 million. Agora, which owns top-selling daily Gazeta Wyborcza and has stakes in 19 regional radio stations, has said it is eyeing a stake in a nationwide TV station to diversify its revenue stream, but it too has declined to reveal details. (Reuters)