The owner of TVN – the American concern Warner Bros. Discovery has started the process of selling the company, Reuters reported on Friday. A WBD spokesman commented on this information, emphasizing that for “Warner Bros. Discovery, when making the decision to sell, maintaining the independence of TVN news is a priority.”
According to Reuters, citing four different sources, Warner Bros. Discovery is cooperating with advisors from the investment bank JP Morgan on the sale of TVN.
As two sources told the agency, the bankers were to be in contact with potential buyers in recent weeks, and materials related to the potential sale of the Polish station are to reach them at the beginning of next year.
“For Warner Bros. Discovery, when making the decision to sell, maintaining the independence of TVN news is a priority,” said a WBD spokesman, also quoted by Reuters.
According to agency sources, the station's value may exceed one billion dollars (over four billion zlotys).
As Reuters writes, Warner Bros. may be interested in purchasing the TVN Group. Discovery local and international media groups.
TVN – alongside several other media and telecommunications companies – by decision of the Prime Minister Donald Tusk has recently been included in the list of strategic entities subject to state protection in order to prevent their possible “hostile takeover” in the conditions of the ongoing hybrid war against Poland.
As noted by Reuters, Prime Minister Tusk emphasized that the takeover of these companies would not be possible without the government's consent.
In December, Warner Bros. Discovery decided to divide the company into two main divisions – television and streaming combined with film studios.
On Friday evening, the president of TVN Warner Bros. Discovery Kasia Kieli sent a message to employees regarding the potential sale of the TVN Group.
This evening, the media published information about the process of possible sale of TVN. As we discussed during Town Hall, WBD is considering various options and one of them is the potential sale of various assets. It is not yet known whether such a sale will take place. What we do know is that information regarding our business will be sent to potential investors.
I will try to keep you all informed as quickly and fully as possible about the next steps and details of this process.
I would like to emphasize one thing very strongly. TVN has over 20 years of history. The owners changed several times. We came out of each change stronger. Together we have gone through the last very difficult years and regardless of whether the owner changes or not, I would like you all to be sure that both I and the entire Polish management are with you. And this time we will come through it even stronger.
TVN is and will be safe. And apart from the fact that it is a fantastic company with fantastic employees, the values ​​that we all uphold, including journalistic independence, are our lasting foundation. And that will never change.
Main photo source: TVN24