Polish DTH platform Cyfrowy Polsat has reached a conditional agreement to acquire the spectrum held by local mobile TV operator, Info-TV-FM, for PLN28.96m (US$8.9m), SatelliteFinance has confirmed.
The frequencies, in the 470-790 MHz band, were awarded…
Polish DTH platform Cyfrowy Polsat has reached a conditional agreement to acquire the spectrum held by local mobile TV operator, Info-TV-FM, for PLN28.96m (US$8.9m), SatelliteFinance has confirmed.
The frequencies, in the 470-790 MHz band, were awarded in 2009 for PLN15.105m (US$4.7m). But local reports suggest that Info-TV-FM, which is 61.23% owned by investment fund NFI Magna Polonia and the remainder by Cyprus-registered Evotec Management, never launched commercial services after failing to reach agreements with Polish mobile network operators.
When contacted, Cyfrowy Polsat declined to comment on how it plans to use the frequencies. In recent months several satellite TV companies have sought to expand into wireless broadband services in the face of growing competition from global technology firms such as Google, Apple and Netflix, which are seeking to roll out video-on-demand streaming services.
Most recently, French pay-TV group Canal+ announced it would buy a 60% stake in local rival Bollore Media in a deal worth €279m (US$383m), in order to compete with the rapid increase in online television offerings.
Cyfrowy Polsat is owned by Polish billionaire Zygmunt Solorz-Zak and his associate Hieronim Ruta.
In early July, they said they were looking to cut their direct and indirect investments in the DTH company, while retaining a majority stake.
Just prior to that, Cyfrowy Polsat completed its merger with Telewizja (TV) Polsat, its parent company, for approximately PLN3.75bn (US$1.3bn) in a cash and share deal.
