Polsat suspends talks with investor pending new law

A member of the supervisory board of Polsat, Poland's leading private television station, Jozef Birka, yesterday announced that the company is not excluding the sale of a controlling stake of company shares to a strategic investor. However in earlier announcements, Zygmunt Solorz, the TV station's main owner said he will keep control over the company. The sale of over 49% of shares will require the consent of the National Radio and Television Council (KRRiTV). Negotiations with potential strategic investors have currently been put on hold while a parliamentary committee approves amendments to the radio and television law. "The investor has to be aware what the legal status of the company is. At least until the committee completes its work, we have to be very careful," said Birka. According to unofficial information, Polsat is in negotiations with Rupert Murdoch's media corporation and Agora. Polsat said that its revenues from advertising in the first quarter of 2002 were 15% lower than for the same period last year. (Rzeczpospolita, p. B5) A.K.