Polskie Media close to finalizing its massive share issue

The decision will increase the firm's capital from zł.105 million to zł.145 million, that is by 38%. "The funds will be mainly used on investments related to programs - Big Brother, soap operas and several other new productions. A smaller share of the funds will be earmarked for technical investments, including changes to the broadcasting system and television equipment," said Mariusz Walkiewicz, PM president. Puls Biznesu reports that a majority of the new shares will be bought by the current shareholders, which means a lion's share will go to Trans Media Group, which controls over 93% of PM's capital. Around 7% of the new shares will go to TVN, which is also a shareholder. TV4 currently has a 2% market share. (Puls Biznesu, p. 10) A.K.