The new owner of TVN: Scripps Networks Interactive – Onet.pl

Formally looks like this: Scripps Networks Interactive, through a British subsidiary of the South Bank Media, bought from ITI and Canal + 100 percent. shares of N-Vision, which owns Polish Television Holding (PTH). For 100 percent. stake in N-Vision, which by Polish Television Holding BV (“PTH”) holds approximately 52.7% of the share capital of TVN SA Scripps Networks Interactive will pay 584 million euros. In addition, Scripps Networks Interactive is to take a long Polish Television Holding and TVN – a total of 840 million.

expressed satisfaction with the transaction Markus Tellenbach, CEO of TVN. In his view, the agreement with Scripps Networks Interactive is an expression of appreciation for the efforts of the construction workers TVN’s largest and most well-known media company in Poland. Kenneth W. Lowe president of Scripps Networks Interactive, noted that the acquisition of shares in TVN is an important step in strengthening the international position of Scripps Networks Interactive and provides a significant increase in its range in Europe.

It is already known that Scripps Networks Interactive has no plans to downsizing in TVN. “There will be eliminating jobs, on the contrary – we want to extend their field of action to strengthen the company, and it is all as an evolution, not a revolution” – said Markus Tellenbach, CEO of TVN.

Heads of Scripps Networks Interactive do not plan too far any additional acquisitions in the Polish market. We are planning a long-term – if it later turned out that there are some investment opportunities in the market, good for shareholders, it’s like the most “- said on TVN24 Business and the World of Joseph NeCastro of Scripps Networks Interactive.

The amount of 584 million euros that Scripps Networks Interactive paid for taking control of TVN did not surprise the market. Although the valuation of shares on the stock market TVN rapidly falling yesterday morning, but then returned to the level of the course before the announcement of the transaction.

584 million gives a valuation of TVN at approx. 20.50 zł. Meanwhile, during Monday’s trading on the Stock Exchange, the company began trading day at 18.50 zł, and over the next two hours down to 17 dollars. Finally, at the close of trading had to be paid back over 18 zł per TVN value.