Polsat hits the airwaves with controlling stake in PiN

The deal marks Polsat's first foray ever into radio business, and is meant to reap potential synergies between PiN radio and TV Biznes, Polsat's other recent acquisition. PiN has built a substantial audience among Warsaw's affluent and well-educated strata, and when its owner, Prokom Investments, said it was looking to sell a majority stake, trade buyers such as Broker FM, ITI and Eurozet reportedly expressed interest. They were all beaten by Polsat though. "It was not money that persuaded us, but Polsat's very interesting, forward-looking strategy for PiN that should raise its value going forward," said Wiesław Walendziak, Vice-President of Prokom Investments. PiN has recently obtained approval from KRRiTV, the broadcast media watchdog, to broaden its profile, and it also seeking to expand beyond Warsaw. Prokom planned to turn PiN into a content provider to individual digital users, a model known in the US, but needed a partner with the technology platforms to make it happen. Polsat appears to fit the bill. (Rzeczpospolita, p. B3; Gazeta Wyborcza, p. 29) R.M.