Polskie Media's TV4 unlikely to post a 2003 profit

Polskie Media, the owner of television station TV4 and which is co-operating with television Polsat, has improved its financial results despite the sector recession. "In 2002 we posted a zł. 7 million profit on revenues of zł. 70 million," said Mariusz Walkiewicz, deputy CFO of Polskie Media. Only a year before, the firm posted a zł. 10 million loss on similar revenues. Walkiewicz explained that the better results were mainly due to limiting costs. However, it will be tough for the company to post positive results for 2003. Since last December, TV4's president is Barbara Tr zeciak-Pietkiewicz who has substantially increased investments in the broadcasters' program. Since then, the market share of TV4 has only increased by 1%, which means that it would find it hard to end 2003 in the black. Polskie Media is controlled in 80% by the Trans Media Group, but it is not a secret that the company owes a lot to Polsat, as TV4 receives some of its programs and movies and both companies share a marketing department. (Puls Biznesu, pp. 1, 8) M.M.