The owner of TVN is the American concern Warner Bros. Discovery has begun the process of selling the company, Reuters reported on Friday. A spokesperson for WBD explained the information, stressing that for “Warner Bros. Discovery, in making the decision to sell, maintaining the independence of TVN news is a priority.”
According to a report by Reuters citing four different sources, Warner Bros. Discovery is working with investment bank advisors JP Morgan on the sale of TVN.
As two sources told the agency, bankers should have been in contact with potential buyers in recent weeks, and materials related to the possible sale of the Polish station will reach them early next year.
“Preserving TVN's news independence is a priority for Warner Bros. Discovery in making the decision to sell,” a WBD spokesperson said, also quoted by Reuters.
According to the agency, the cost of the station may exceed one billion dollars (more than four billion zlotys).
As Reuters writes, Warner Bros. may be interested in buying TVN Group. Discover local and international media groups.
TVN – along with several other media and telecommunications companies – was recently added to the list of strategic entities under state protection by Prime Minister Donald Tusk's decision to avoid possible “hostile capture” in the context of the ongoing hybrid war against Poland.
As reported by Reuters, Prime Minister Tusk stressed that the takeover of these companies is impossible without the government's consent.
In December, Warner Bros. Discovery decided to split the company into two main divisions – television and streaming along with film studios.
On Friday evening, the president of TVN Warner Bros. Discovery Kasia Kieli sent a message to employees about the possible sale of TVN Group.
This evening, the media published information about the possible process of selling TVN. As we discussed at the Town Hall, WBD is considering various options, one of which is the possible sale of various assets. It is not yet known whether such a sale will take place. What we do know is that information about our business is sent to potential investors.
I will try to keep everyone informed of the next steps and details of the process as quickly and fully as possible.
I would like to emphasize one thing. TVN has a history of more than 20 years. Owners changed several times. We have emerged stronger from each change. Together, we have passed through the last very difficult years, and regardless of whether the owner changes or not, I want you all to be sure that both I and the entire Polish leadership are with you. And this time we will overcome it even stronger.
TVN is and will be safe. And besides the fact that it's a fantastic company with fantastic employees, the values we all support, including journalistic independence, are our foundation. And that will never change.
Main photo source: TVN24
