Scripps Networks Interactive has confirmed that it now owns 98.8% of TVN and will start the “squeeze out process” to secure 100% of the Polish broadcaster.
Scripps acquired approximately 46% of TVN’s shares for some US$833.1 million (€746.7 million) after concluding its tender offer for all outstanding shares last week.
This comes after it completed a deal to acquire 52.7% of TVN from ITI and Canal+ Group in July.
“Scripps Networks Interactive now owns 98.8% of TVN, and the company will execute a squeeze out process to acquire all remaining outstanding TVN shares,” said the channels group in a statement.
TVN is one of Poland’s leading media companies with a portfolio of free-to-air and pay TV lifestyle and entertainment channels. These include TVN, TVN 7, TVN Style, TTV, TVN Turbo, 24-hour news channel TVN24, and business news channel TVN24 Biznes i Swiat.
Half of Spanish internet users now subscriber to online video digitaltveurope.com/2020/10/30/hal…
30 October 2020 @ 12:14:14 UTC
ICYMI: Telefónica sees OTT growth offset pay TV decline digitaltveurope.com/2020/10/29/tel… https://t.co/4UxXtR5U6I
29 October 2020 @ 21:00:00 UTC
ICYMI: Amazon hires ex-BritBox chief Soumya Sriraman to lead US channels business digitaltveurope.com/2020/10/29/ama… https://t.co/8HRFyKjSuv
29 October 2020 @ 20:00:00 UTC