News Corp considers pulling out of Central and Eastern Europe

By FNE Staff

    News Corp has reportedly hired Lehman Brothers to study the company's holdings in Bulgaria, Latvia, Poland, and Turkey with the intention of selling its holdings in the region.

    The reports came not long after Poland's TV Puls, where News Corp had increased its stake to 35%, announced it would move ahead with two HD TV channels. In addition to a cancellation of that station's news programme, Bulgarian local reports say that News Corps' bTV may be sold, with CME a possible buyer, according to Broadband TV News.

    News Corp also has holdings in LNT and TV5 in Latvia, and Fox Turkey.