The giant retreats
The reason for the sale was that the station had not reached the "critical mass" expected, according to TBT i Wspólnicy, the company responsible for PR services for News Corp in Poland.
News Corp bought a 35 percent stake in the Franciscan-controlled religiously-themed TV Puls station in 2006, seeking to turn it into a nationwide info-tainment station promoting family values. The station has extended its coverage and applied to media regulators for a change of status, from a thematic station to a universal one.
The backing of News Corp raised expectations that TV Puls would grow into a Polish equivalent of the US Fox News channel. However, the first symptoms of an apparent crisis appeared in July, following the unexpected layoff of 125 people and the cancellation of news programs by the station.
Following Murdoch's withdrawal, Dariusz Dąbski and the Franciscans now hold 49 percent and 51 percent stakes, respectively. The station is searching for a strategic investor, but it is uncertain whether it would offer them a majority stake, Dąbski told daily Parkiet last week.
Dąbski added that no layoffs are planned in the near future and said the TV station would begin operating at a profit in 2009. Last month, TV Puls also applied for a concession for new channels, on which it will broadcast Puls News and TV Puls Rozrywka.
According to Artur Niewrzędowski, from PR agency Talking Heads, the key reason for the project's failure was that TV Puls' growth from a niche channel to a universal station was not accompanied by the development of a distinguishing feature.
Meanwhile, News Corp is not planning any withdrawal from its other projects in Poland, which include Myspace.pl and News Outdoor. It will also search for other investments to develop, TBT i Wspólnicy representatives said.
