15-11-2010

Cyfrowy Polsat Buys Telewizja Polsat

Written by FNE Staff

Polish cable operator and telecom company Cyfrowy Polsat announced it will acquire commercial broadcaster Telewizja Polsat for 3.75 billion zlotys. Cyfrowy Polsat is the leading satellite broadcaster in Poland, and Telewizja Polsat is in second place among television broadcasters in Poland.

The deal will consist of both cash and shares and will make the new company the leading media company in Poland. The deal is expected to be concluded in March 2011.

Telewizja Polsat (www.polsat.pl)was launched by Zygmunt Solorz-Zak, one of Poland's wealthiest men, in 1992.

In August 2010, Cyfrowy Polsat (www.cyfrowypolsat.pl) announced a cross-border merger with M. Punkt Holdings based in Nicosia, Cyprus.