12/10/2007

Time Warner's AOL unit plans to launch internet portal in Poland - report

WARSAW, Dec. 7, 2007 (Thomson Financial delivered by Newstex) -- AOL, an internet arm of US media company Time Warner (NYSE:TWX) , will launch an internet portal in Poland as part of its plans to expand in Europe, daily Rzeczpospolita reported today withouth giving sources.

The decision will be announced on Dec 12, the newspaper said. AOL has said it wants to spend more than 250 bln usd on expansion in Europe, where the internet advertising market has grown by 20 pct annually compared to just 2 pct in the US, Rzeczpospolita reports.

AOL will offer email services, internet communicator AIM and a Polish-language portal, according to the paper.

Polish web advertising market is worth 415 mln zlotys and has been dominated mostly by local players, including Onet, an internet arm of a television broadcaster TVN.

In October, a South African media company Naspers launched a bid for Poland's biggest internet communication company Gadu-Gadu and said it planned to invest 155 mln usd in the firm.
Source: By Piotr Skolimowski,
money.cnn.com

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