Sanoma Budapest and prominent personalities of the Hungarian TV industry have signed an agreement to establish a joint venture company to launch a new cable TV channel named 4 - The storyTV. The broadcast officially starts as of 1 January 2006. Sanoma Budapest will hold 25% of the shares of the new company.
The channel will focus on topics about stars and celebrities. According to market research findings, news and programs about stars and celebrities are the most preferred topics of Hungarian magazine readers and TV viewers.
The channel will start its test broadcasting during the autumn of 2005. The channel will be available for more than 2 million households. It will broadcast both own productions and licensed programs.
By expanding its activities into the television business and combining its strengths with the expertise of its joint venture partners, Sanoma Budapest, operating a leading magazines and internet business, will strengthen the multimedia dimension of its company.
Sanoma Budapest belongs to Sanoma Magazines International, which is part of Sanoma Magazines, the magazine division of SanomaWSOY.