Scripps Buys into Poland’s TVN

March 16, 2015 World Screen Top Stories
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KNOXVILLE: Scripps Networks Interactive is purchasing a 52.7 percent interest in the Polish multiplatform media outfit TVN, in an all-cash deal for 584 million euros ($617 million).

Scripps picked up the controlling stake from ITI and CANAL+ Group. As part of the purchase, Scripps also assumes 840 million euros ($888 million) of debt.

TVN has a bouquet of free- and pay-TV lifestyle and entertainment channels in Poland, among them TVN, TVN 7, TVN Style, TTV and TVN Turbo, as well as Poland’s leading 24-hour news channel, TVN24, and business news channel TVN24 Biznes i Swiat.

“This transaction is an important milestone in the ongoing strategic development of our international business, and provides us with substantial further scale in Europe,” said Kenneth W. Lowe, the chairman, president and CEO of Scripps Networks Interactive.

“Poland is a vibrant media market with significant growth potential. TVN has an incredible portfolio of channels and services, and has delivered consistently strong creative and financial performance under the leadership of Markus Tellenbach,” added Lowe. “The business will be a strong addition to Scripps Networks Interactive, and we’re looking forward to working with the whole TVN team to achieve our significant ambitions in the region together.”

“This is a credit to the hard work and commitment of every single employee of TVN in building one of the most successful media companies in Poland,” said Markus Tellenbach, TVN's president and CEO. “Ken Lowe and the team at Scripps Networks Interactive understand the importance of the Polish market, and the value of developing compelling content that connects with consumers. We are delighted to be joining the Scripps Networks Interactive family, and we’re excited about developing and strengthening our business for many years to come.”