Discovery and Time Warner seen as main bidders for TVN

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US media groups Discovery Communications and Time Warner are seen as the main contenders for a controlling stake in major Polish broadcaster TVN, according to sources quoted by Puls Biznesu.

Bidders have to file non-binding offers by November 24.

“There are four strategic investors left in the competition and a number of funds,” said a source quoted by the daily.

Time Warner has already once tried to buy a stake in TVN, but at that time ITI chose Canal+ (Vivendi) as a partner for the investment.

Media holding 21st Century Fox and publisher Axel Springer are also expected to place offers in the sale process.

In mid October, ITI and Canal+ said they were considering a possible sale of its 51 percent stake in TVN. The deal is likely to be concluded in 2015.

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