WARSAW Feb 13 Polish broadcaster TVN
plans to buy back shares and part of its debt, expecting a
rebound in television advertising this year after a weak few
years, the group said on Thursday.
The group, with a market value of about 5.6-billion zlotys
($1.8 billion), plans to buy back 500 million zlotys worth of
shares this year and next year, with up to half of the programme
to be completed in 2014.
It also got its supervisory board's approval to buy back up
to 60 million euros ($81.5 million) of debt, the costs of which
have affected TVN's net profit in recent years.
The broadcaster closed 2013 with a 21 percent dip in
operating profit to 297 million zlotys - around 100 million
below analyst forecasts.
($1 = 3.0601 Polish zlotys)
($1 = 0.7359 euros)
(Reporting by Adrian Krajewski; Editing by Mark Potter)