×
You will be redirected back to your article in seconds

Scripps Buys Controlling Stake in Poland’s TVN for $615 Million

LONDON — U.S. media group Scripps Networks Interactive is to acquire a controlling stake in Poland’s leading TV network, TVN, which had a market-leading 22% share of Polish viewing last year.

Scripps, which owns the Travel Channel, the Food Network and other channels, has agreed to buy a 52.7% stake in TVN from ITI and Canal Plus Group for €584 million ($615 million). Scripps will also take on €840 million ($885 million) of debt. The deal is subject to regulatory approvals. Once the deal is completed, Scripps will launch a public tender offer to up its stake in TVN.

TVN is one of the leading media companies in Poland, with a portfolio of free-to-air and pay TV lifestyle and entertainment channels, including 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.

The acquisition is the latest move in Scripps’s expansion into Europe. In 2011, the company completed a joint-venture partnership with BBC Worldwide in the U.K. for the UKTV portfolio of 10 entertainment and lifestyle channels.

Scripps distributes seven lifestyle brands reaching more than 220 million subscribers in nearly 180 countries and territories across Europe, Middle East, Africa, Asia Pacific, Latin America and the Caribbean.

“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, Scripps’ chairman, president and CEO.

“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,” said 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.”

More TV

  • Five Takes on Canal Plus, Federation’s

    Just Days Left to Catch Canal Plus’ ‘The Bureau’ on MyFFF

    The most lauded of titles on this year’s MyFrenchFilmFestival, UniFrance’s online showcase featured by over 50 OTT services around the world, may not be a film but a drama series. With four seasons aired, and a milestone in world sales on a French TV show, slow-boiling espionage series ‘Le Bureau des légendes’ (“The Bureau”) is [...]

  • Walt Disney Archives Founder Dave Smith

    Walt Disney Archives Founder Dave Smith Dies at 78

    Walt Disney Archives founder Dave Smith, the historian who spent 40 years cataloging and preserving the company’s legacy of entertainment and innovation, died Friday in Burbank, Calif. He was 78. Smith served as Disney’s chief archivist from 1970 to 2010. He was named a Disney Legend in 2007 and served as a consultant to the [...]

  • TV Writer Christopher Knopf, Former WGA

    TV Writer Christopher Knopf, Former WGA West President, Dies at 91

    Prolific Emmy-nominated television writer Christopher Edwin Knopf, former president of the Writers Guild of America West, died in his sleep of congestive heart failure on Feb. 13. He was 91. Knopf was born in New York and attended UCLA, leaving during his senior year to join the Air Force during World War II. He finished [...]

  • Jussie Smollett The Black AIDS Insitute

    Jussie Smollett Case: Two Suspects Released Without Charges as New Evidence Emerges

    After two days of questioning, the Chicago Police Department announced Friday evening that it has released two suspects in the Jussie Smollett case without filing charges. Police spokesman Anthony Guglielmi said that detectives had developed new information in the case. Police no longer consider the men to be suspects. “Due to new evidence as a [...]

  • GOTHAM: L-R: Guest star Cameron Monaghan

    TV News Roundup: Fox Drops 'Gotham' Final Season Trailer (Watch)

    In today’s TV news roundup, Fox released a new trailer for an upcoming episode of “Gotham” and Disney has announced the cast for its upcoming “High School Musical” series.  FIRST LOOKS Showtime released a new trailer and the official poster for the upcoming fourth season of “Billions,” premiering March 17 at 9 p.m. ET/PT. In [...]

  • Chris Rock

    Chris Rock to Direct Kenan Thompson Comedy Pilot at NBC

    Chris Rock has come onboard to direct the NBC single-cam comedy pilot “Saving Kenan,” Variety has learned. Rock will also executive produce the pilot, which stars “SNL” mainstay Kenan Thompson. Thompson will play a newly widowed dad determined to be everything for his kids while begrudgingly letting his persistent father-in-law become more involved in their lives [...]

  • Peak TV Saturation TV Placeholder

    Apollo Global Management Buys Majority Stake in Cox TV Stations

    Private equity giant Apollo Global Management has cut a deal with Atlanta-based Cox Enterprises to buy a majority stake in Cox’s 13 TV stations as well as three newspapers and a handful of radio stations in Ohio. Apollo has been in the hunt for broadcast TV stations for some time. Cox’s station group, which includes [...]

More From Our Brands

Access exclusive content