WARSAW—Poland's President Andrzej Duda said on Monday he vetoed a controversial media bill that would have forced U.S. company Discovery to give up its controlling stake in Polish television network TVN, with the president acknowledging free speech concerns of the bill's opponents and suggesting it would have strained relations with the United States, a key Warsaw ally.
"If we signed an agreement, we have to abide by it," Duda said. "Then we can say we're an honorable nation. And that's how I want Poland to be seen by its allies."
The bill, recently passed by the lower chamber of the Polish parliament, would have blocked any non-European entity from owning more than a 49 percent stake in television or radio broadcasters in Poland. Dubbed "lex TVN," the bill would have forced Discovery to relinquish its majority stake in TVN, the largest private television network in Poland.
In a nod to concerns raised about the bill, Duda said one of the arguments weighing on his decision was "the matter of media plurality and freedom of speech."
Duda made clear, however, that his veto doesn't put the issue of foreign ownership of media in Poland to rest, urging lawmakers to reconsider the legislation and come up with a version that doesn't have a retroactive impact on investors.
"For those who want to invest in our country, in the future, after such regulations take effect, they'll have clarity on the conditions under which they can manage their investment," Duda said.
The Law and Justice party, of which Duda is a member, has long said that foreign media groups wield too much power in Poland and distort public debate.
"I believe that generally limiting the possibility of holding shares or stocks in media companies is sensible when it comes to foreign capital," Duda said at the presser, citing examples of the United States, France, and Germany, which have such laws in place.
"I share the opinion that it should be introduced in Poland, but for the future," he added.