Agora and SFS Ventures, supported by George Soros’ media fund, will take over Polish Eurozet. Polish journalists have criticized the move on Twitter, claiming that the takeover of Eurozet by liberals will damage Poland’s media plurality.
According to reports, 100 percent of the shares have been purchased for PLN 130.75 mln. Agora (the owner of liberal outlets Gazeta Wyborcza and Tok FM Radio) will hold 40 percent of the shares and SFS Ventures, supported by Soros, 60 percent.
According to wirutalnemedia.pl, “the fund [SFS Ventures], financed by George Soros, in mid-2016 purchased 5.35 mln worth of Agora shares, which comprise 11.12 percent of its capital which gives 8.28 percent of votes in its general assembly.”
The two shareholders have also signed an “associate agreement” which regulates the detailed rules of investment in Eurozet by SFS Ventures, as a major associate and Agora, as a minor one, as well as the rules of cooperation between the two.
Here is what Polish journalists had to say on the matter:
“Agora, the publisher of “Gazeta Wyborcza” will take over the Eurozet company, Radio Zet’s owner for PLN 130 mln. Now we’ll see pluralism,” wrote Marcin Dobski.
“Zet’s shares are being purchased by not only Agora, but also the Czech media invest fund, controlled by Soros. Agora will take 40 percent of shares, Soros – 60 percent. To call this repolonization…” wrote Grzegorz Wszolek.
Eurozet was put up for auction a few months after its purchase by Czech Media Invest from the French Lagardere group. Radio Zet, as well as smaller Chillzet, Antyradio and Meloradio are all part of the Eurozet capital group.