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WIZJA FACES MERGER FALLOUT
A Geneva court has ruled that @Entertainment, the former owner of the Wizja TV digital satellite platform should pay a $10 million indemnity to Cyfra+ the Canal+ Polish affiliate. Two years ago Canal+ and Wizja TV were in discussions over the creation of a single digital platform for the Polish market. The joint venture was to have been branded as Wizja+ and @Entertainment would have held 50 per cent of the new company. However, a dispute between the two companies led to the break up of the deal.
In June 1998, Canal+ took the matter to the International Commercial Court in Geneva for arbitration, accusing Wizja TV’s then owner of ill-will in the creation of the new project. The citation stated that @Entertainment’s retreat from the deal at such an advanced state of negotiation had exposed Canal+’s losses in the market, while @Entertainment had benefited from access to Canal+ documents and plans, which it had later taken advantage of.
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