PPF plays with fire

Since being elected senator, Vladimír Železný has made it clear he doesn't intend to step down as CEO of TV Nova. He told Právo yesterday that he'll have time for both jobs, because Nova is running well and doesn't need much daily oversight. When PPF took control of Nova, it seemed keen on getting rid of Železný, on improving the station's transparency, and on selling out to an international media concern. It now appears that PPF likes the idea of having a senator on its payroll, because of the short-term benefits. It might, for example, need help in making sure it doesn't lose its broadcast license. But PPF is playing a risky game. Some advertisers we've spoken to are considering pulling out if Nova's image continues to slide and its transparency doesn't improve. Keeping Železný might help in the short term, but it might be fatal in the end.