Axel Springer Takes Stake in Polish Broadcaster

BERLIN, December 5: German publishing giant Axel Springer
has acquired a 25.1-percent stake in the Polish commercial broadcaster
Telewizja Polsat for 250 million euros.

The Polish broadcasting group operates the flagship channels
Polsat and Polsat 2, as well as a health network and two sports channels. Axel
Springer acquired the stake from Warsaw-based founder Zygmunt Solorz-Zak, who
is said to be planning to offload a further 15 percent on the stock market by
the end of 2008.

The German company has been focusing on television
opportunities in international markets since competition authorities blocked
its planned acquisition of ProSiebenSat.1 Media.

The deal in Poland follows Axel Springer’s agreement last
month to acquire a 25-percent interest in leading Turkish TV broadcaster
Doğan TV. Doğan’s parent company, Dogan Yayin Holding, meanwhile, has
expressed interest in buying the 50.5-percent interest in ProSiebenSat.1 Media
being offered up by Haim Saban, which has a reported price tag of more than 3
billion euros. Other interested parties include private equity firms KKR and
Permira, and a group of investors comprising Goldman Sachs, Apax and Cinven.