Warsaw (Puls Biznesu) – TV4, one of Poland’s smaller private TV broadcasting companies, wants to invest PLN 10 m (EUR 2.4 m) this year, a big amount for the company. New programmes will be implemented, including its own series. ‘This year’s investments are two times bigger than last year’s. In the recent years, expenditures were much lower, and status quo was being held’, Mariusz Walkiewicz, deputy CEO for financial affairs of Polskie Media, the owner of TV4, said. Investments should be finances from company’s operations and its own funds. In 2003, capital was increased by PLN 25 m.
The TV, wants to have 4.5 percent of the viewers. In the first quarter of this year, it had only 2.47 percent. At the end of the year, Polsat Tv is planning its IPO. The funds it raises in the market could be spend to buy Polskie Media. ‘This option is possible but this is a matter of negotiations between Polsat and our shareholders’, Barbara Trzeciak-Pietkiewicz, Polskie Media CEO stressed.
TV4 still has debt inherited after Nasza Telewizja, its predecessor. PLN 15 m are still left to be paid back to creditors and although today the company reaches operating income it will have to wait a while to not net income. ‘If this year’s investments bring fruit next year, net income could be real in 2007’, Mariusz Walkiewicz said.
(PLN 1 = EUR 0.239)Poland/Enterprises/Media