Springer jumps into TV

German publisher Axel Springer is in talks to buy a minority stake in Polish television company Telewizja Polsat, forging ahead with its policy to enter TV markets in regions where it already has a publishing presence. Polsat's owner Zygmunt Solorz-Żak plans to sell a quarter of the company to a foreign investor in order to strengthen Polsat's position in relation to competitor TVN.

Springer said it expected to pay EUR 250 (zł.955.33) million for the 25.1-percent stake, in accordance with Polsat's demands, adding that the purchase price may be subject to an upward adjustment of up to EUR 50 (zł.191) million until the end of 2008. Springer recently bought a 25-percent stake in Turkish broadcaster Dogan TV, the daughter company of Dogan Yayin Holding, for EUR 375 million (zł.1.43 billion).

The German media group first entered Poland's newspaper market in 2003 with the tabloid Fakt, which quickly became a best-selling title. It is the biggest publisher in the country, with a 44-percent market share. Axel Springer also publishes Europe's best-selling daily, Germany's Bild Zeitung. Polsat is one of two leading private television broadcasting groups in Poland.

Springer is looking for ways to expand into television after German cartel authorities scuppered its bid to buy Germany's biggest private broadcaster ProSiebenSat.1 earlier this year. (Reuters)