(Adds Puls TV CEO quotes)
WARSAW Nov 3 News Corp NWSa.N agreed on
Monday to sell its indirect 35 percent stake in small Polish
television broadcaster Puls TV to the remaining shareholders for
an undisclosed sum.
Rupert Murdoch's media group had hoped to establish a
foothold on the quickly expanding Polish market.
But Puls, which now controls less than 1 percent of the
market, has failed to gain ground on the established public
television and private broadcasters TVN TVNN.WA and Polsat.
The remaining holdings in Puls TV are owned by the
Franciscan religious order and DARIUSZ Dabski, who replaced a
News Corp appointed head earlier this year. The order will now
own a 51 percent stake, with Dabski getting the rest.
"On the part of News Corp, it's probably a reflection on the
market situation, which changed radically of late," Dabski told
Puls plans to start discussions with potential investors,
both local and foreign, within 2-3 weeks.
"I think it will be possible to offer them cooperation, not
necessarily linked with a takeover of a controlling stake," he
News Corp had hired Lehman Brothers in July to explore the
options for its East European television holdings, which also
include stations in Latvia, Serbia and Bulgaria.
News Corp had also been in talks with JCDecaux (JCDX.PA)
about its Russian outdoor business.
(Reporting by Adrian Krajewski and Chris Borowski; Editing by