Telewizja Familijna and PZU-Zycie insurance creating multi-media group

Telewizja Familijna TV station and PZU Zycie insurance company are planning to start a major group investing in the media market, primarily the press and Internet, known as Grupa Multimedialna. The partners have already payed a reported zl.20 million to take over Polski Dom Wydawniczy publishing house, the owner of five titles (Pani, Uroda, 101 porad, Kobieta i Zycie and Smaki i Aromaty) and a women’s-interest portal sekretykobiet.pl, which recorded 360,000 visits in January 2001. They are now hunting further acquisitions and will reveal detailed plans in March. PZU will hold 80% of the enterprise and 20% will belong to Telewizja Familijna, owned by Polskie Sieci Elektroenergetyczne, KGHM, Polski Koncern Naftowy, Prokom, PZU Zycie and the order of Franciscan monks. It is possible PZU Zycie and Telewizja Familijna will later be joined by KGHM and PKN. According to Jaroslaw Baran, head of Grupa Multimedialna’s supervisory board, the new entity is currently in talks with potential partners.The new group will compete with major sector players like Agora, Polsat, ITI Group, Eurozet and Grupa RMF. (Puls Biznesu, p.4) J.K.