TVN broadcaster up for sale

photo - flickr/Drabik Pany

The majority owners of TVN, one of two of Poland's largest private broadcasters, said in a press release on Thursday evening that they “have been approached in recent months by various strategic and financial investors expressing an interest in acquiring the controlling stake in TVN Group, should it become available.”

“In response to such interest, both the ITI Group and Canal+ Group have decided to jointly review their strategic options regarding the 51% stake in TVN Group,” the statement read.

Canal + said that it would “continue to maintain a strong footprint in Poland,” even after the potential sale.

According to sources quoted by business daily Puls Biznesu, the sale process is an advanced stage and TVN could have a new owner before the summer of 2015.

The paper claims that large international media groups have expressed interest in TVN, a market leader in Poland. The potential buyer will have to pay more than 3 billion zloty (some 710 million euro).

Some reports suggest that US giant Time Warner is the most likely buyer. Other media holdings such as 21st Century Fox, Discovery Communications, Bertelsmann and RTL Group could also be in the running.

For the past two years, the controlling stake in TVN has been held by N-Vision, an SPV of ITI and Canal +. The Polish media group has a 60 percent share in the SPV, while the French holding bought its 40 percent stake for 227 million euro. (kw)