Polish broadcaster TVN has entered into exclusive talks with Ringier Axel Springer Media (RAS) to sell its internet subsidiary, Onet.pl.
TVN has approved the preliminary terms of a partnership with RAS, a joint venture between Germany’s Axel Springer and Swiss group Ringier, which could see the latter take control of Poland’s largest internet portal, with TVN retaining a minority stake. Onet.pl is valued by TVN at about PLN1.4 billion (€335 million).
TVN Group CEO Markus Tellenbach said that Onet.pl was well-placed to expand the scope of its activities in the Polish market and that the partnership with RAS would give it a stronger ownership structure.
At the end of last year, TVN announced a partnership with Vivendi-backed Canal Plus that will see the pair merge their Polish pay TV operations.