Axel Springer conducts negotiations about Participation in Telewizja POLSAT Spolka Akcyjna




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23.11.06

Axel Springer conducts negotiations about Participation in Telewizja POLSAT Spolka Akcyjna

To press release overview

Axel Springer is currently conducting negotiations about the acquisition of a minority stake in Telewizja POLSAT Spolka Akcyjna, Warsaw, a Polish TV company. The purchase price for such stake of 25,1 percent will amount to approximately EUR 250 million. The purchase price may be subject to an upward adjustment until the end of 2008 of up to EUR 50 million, depending on the future value of the participation.

The closing of the acquisition is subject to the consummation of a binding purchase agreement and further customary conditions precedent (in particular antitrust and regulatory conditions) and a due diligence satisfactory to Axel Springer.

POLSAT is one of the two leading private TV broadcasting groups in Poland which involves the two fullsize programs POLSAT and POLSAT 2, and, in addition, a health channel as well as two sports channels.

Press Contact Axel Springer SE: Edda Fels
Tel: +49 30 2591 77600