ITI and Canal+ may sell TVN

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Polish media group ITI and French holding Groupe Canal+ are considering the sale of their majority stake in major Polish television broadcaster TVN, the companies said in statements late on Thursday.

“The ITI Group and Canal+ Group have been approached in recent months by various strategic and  financial investors expressing an interest in acquiring the controlling stake in TVN Group, should it  become available,” ITI’s press release said.

“In response to such interest, both the ITI Group and Canal+ Group have decided  to jointly review their strategic options regarding the 51% stake in TVN Group.”

According to sources quoted  by Puls Biznesu, US media giant Time Warner could be the future buyer of the controlling stake. Other international holding interested in TVN may include 21st Century Fox, Discovery Communications, Bertelsmann and RTL Group.

The sale process is already at an advanced stage, the sources said. The potential buyer should be prepared to pay some PLN 3 billion for TVN.

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