Electronic media watchdog KRRiT is going to announce a new open tender next week for frequencies used at present by TV4 channel, according to today’s ‘Puls Biznesu’ daily. TV4 is a small player with links to Polsat, having a 3-4% all day audience share.
Our view: We would expect a slightly positive market impact from the news, which means that TVN could consolidate its leading position ahead of Polsat in terms of audience share and advertising revenues. We reiterate our Buy rating for the stock.