Murdoch joins friars in Polish TV venture
Australian-born Rupert Murdoch's News Corporation has bought a minority stake in a small Franciscan-owned Christian broadcaster, TV Puls.
Puls Biznesu reports that Rupert Murdoch company News Corp, with USD $55 billion (AUD $75 billion) of assets and USD $25 billion (AUD $34 billion) of annual sales, bought 25 percent stake in the Polish broadcaster.
The Franciscan monks, who run the station, have issued a statement that they had invited the investor to collaborate with them.
"The [Franciscan] brotherhood has invited News Corp to work with us as an investor," newspapers quoted TV Puls chief executive Fr Zdzislaw Dzido as saying.
He says the intention of the partners is to maintain the family and Christian character of TV Puls.
"Both shareholders intent to retain the family and Christian character of the station. The management of Telewizja Puls is preparing the strategy and development plan", Zdzislaw Dido, TV Puls CEO said.
The previous partner of TV Puls Polsat, Poland's biggest private television station, refused to provide more money for a venture in which they did not have a controlling stake.
TV Puls is not a big station. Last year, it had 0.43 percent of the market.
Rupert Murdoch invests in catholic TV Puls (Puls Biznesu, 28/6/06)
News Corp buys stake in Polish broadcaster - papers (Reuters 28/6/06)
News Corp acquire 25% stake in Catholic TV Puls (Radio Polonia 28/6/06)
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Murdoch gives $15.5 million to LA Cathedral (CathNews 6/9/99)
29 Jun 2006