TV Polsat looks for investors to boost growth

The details are said to have been already agreed. The Germans will have representatives in the Polsat supervisory board and are negotiating positions in the board of directors. The whole transaction is to be completed by the end of this year but if it unexpectedly fails, Solorz can potentially fall back on Rupert Murdoch's News Corp. A source close to Polsat explains that Solorz has simply matured enough for such a decision and understands that he needs an investor who will contribute know-how and redirect Polsat into a growth path, especially considering the station has been recently losing against TVN. The next stage of changes will be going public - most probably in Autumn 2007 when Polsat will offer a new parcel of shares worth another zł. 1 billion. In the long run Solorz will retain a 55% stake, while another investor will take 25%. The rest will be distributed among bourse investors. (Gazeta Wyborcza, September 9-10, p.30) J.L.