Polish pay-TV operator Cyfrowy Polsat to buy Telewizja Polsat for $1.3 billion
15 Nov 2010
Poland's largest satellite television broadcaster, Cyfrowy Polsat CPSM.WA, today said that it will buy its arch rival Telewizja Polsat SA, for 3.75 billion zlotys ($1.3 billion) in a cash and share deal.
Warsaw-based Cyfrowy is a satellite television broadcaster as well as provides telecommunication services and mobile virtual network. Its offering consists of 81 channels in the Polish language including sports, music and entertainment, news and information, children, education and film channels, as well as over 500 free to air television and radio channels available via satellite.
Founded in 1992 and owned by billionaire Zygmunt Solorz-Zak, Telewizja Polsat is Poland's second-biggest television broadcaster.
It. operates as a commercial television broadcaster and owns and operates commercial TV stations. It offers popular programmes, TV shows, sport, American and European films, and sitcoms. Telewizja Polsat S.A. was founded in 1992 and is based in Warsaw.
Cyfrowy will pay 2.6 billion zloty in cash and the rest in the form of 80 million new shares valued at 14.37 zloty each.
The acquisition will propel Cyfrowy Polsat to become Poland's largest media company based on sales.