Murdoch pulls out of TV Puls
The company held a minority 35 percent share in the station for two and a half years, making a reported $100 million cash injection, but has now decided to pull out of the project, citing the station's disappointing market performance and the need to focus on other business areas in the face of incipient economic downturn.
News Corp sold its shares to the two other shareholders, the Franciscan Order and Puls chairman, Dariusz Dębski, who becomes the main shareholder.
Analysts say the move is part of a round of restructuring awaiting the media industry when the economic slowdown starts to hit ad revenues, but might also pave the way for a takeover of Puls by another Western media giant.
Sources: Puls Biznesu, Rzeczpospolita (P.M.)
News Corp sold its shares to the two other shareholders, the Franciscan Order and Puls chairman, Dariusz Dębski, who becomes the main shareholder.
Analysts say the move is part of a round of restructuring awaiting the media industry when the economic slowdown starts to hit ad revenues, but might also pave the way for a takeover of Puls by another Western media giant.
Sources: Puls Biznesu, Rzeczpospolita (P.M.)
