Cyfrowy Polsat to buy mobile TV operator
08.22 Europe/London, October 31, 2011 By Chris Dziadul
Cyfrowy Polsat has reached an agreement to buy Info-TV-FM, the company that holds the licence to operate Polandís mobile TV service.
However, local reports indicate that the deal is conditional on Info-TV-FM retaining the frequencies in the 470-790 MHz band it was awarded by the Office of Electronic Communication (UKE) in 2009.
Cyfrowy Polsat will pay a total of PLN28.96 million (Ä6.64 million) for Info-TV-FM, PLN17.73 million of which will be to NFI Magna Polonia, which currently holds a 61.23% stake in the company.
The remainder will go to the Cyprus-registered Evotec Management Limited.
Despite holding a mobile TV licence, Info-TV-FM has failed to launch a service due to its inability to reach an agreement with Polandís mobile companies.
Separately, Info-TV-FM has signed a service agreement with Cyfrowy Polsat for the provision of wholesale audiovisual media services, including the distribution of radio and TV programmes.
The deal is valid until April 30, 2022.