On August 11, 2021, the Sejm of the Republic of Poland adopted the Act amending the Broadcasting Act of December 29, 1992, commonly known as "Lex TVN".
We wrote more about the above draft of Act on July 12, 2021 in the article available at the following link:
Pursuant to the adopted amendments, the direct or indirect capital share of foreign companies from outside the European Economic Area (EEA) in the share capital of a company applying for a concession to broadcast radio and television programs may not exceed 49%.
Foreign persons and their subsidiaries holding a radio and television broadcasting concession on the effective date of the Act are required to adjust their capital structure and their contracts or statutes to the imposed restrictions within 6 months from the effective date of the Act.
Although the amendment does not formulate any sanctions, it should be borne in mind that two instruments may be applied to companies from outside the EEA that fail to adapt to the introduced changes.
Firstly, the National Broadcasting Council may refuse to grant consent to extend a concession to a broadcaster who, inter alia, flagrantly violates the conditions set out in the Act or in the concession.
Secondly, the concession may be withdrawn for the same reasons.
The above-mentioned provisions of the amendment enter into force after 30 days from the date of publication of the Act.