Scripps Networks Interactive has completed acquisition of a … – Press portal

1 July 2015 the ITI Group and Canal + Group sold all its shares in the company NVision BV, registered in Amsterdam, which controls a total of 52.7 per cent. TVN shares in the company Southbank Media Ltd, registered in London and owned by US group Scripps Networks Interactive. The total amount the buyer would pay ITI Group and Canal + Group is 584 million euros. Southbank Media Ltd will take over a debt in the form of PIK Toggle Senior Notes with a nominal value of EUR 300 million, issued by the Polish Television Holdings BV

“We are proud and happy that we give TVN in good hands Scripps Networks Interactive – a family business for 140 year history and the most forward-looking of media company in America. Considering that since the founding of TVN in 1997 we built this company from scratch, creating one of the biggest broadcasters in Poland, was important for us to ensure its continuity, quality and independence of journalism, “- he said in a press release quoted Bruno Valsangiacomo, president, co-founder and shareholder ITI Group. Bertrand Meheut, CEO of Canal + Group, added: “The transaction allows us to focus on the implementation of the strategy associated with pay TV in Poland. Canal + Group will continue to sustain their interest in the development in Poland, which is the Group’s second largest market after France. We will focus on the development nc +, a leading Polish pay-TV platform in the premium segment. We will also work closely with TVN, which owns 32proc, shares in nc +. Scripps Networks Interactive will therefore be our key partner and we are very pleased with the prospects for our cooperation. ” Under Polish law Scripps Networks Interactive is obliged, within three months of implementation of the acquisition of a 52.7 per cent. TVN shares to announce a mandatory tender offer for the shares of TVN to increase its stake in the company to 66 percent. Scripps announced its intention to conduct a tender offer for 100 percent. TVN shares and to have them withdrawn from trading on the Stock Exchange in Warsaw. The tender price has not yet been determined. “Closing of the agreement by Scripps Networks Interactive is a key step towards the further development of TVN in Poland and the region. The strategic support of the new owner, we are in an ideal situation to expand our unique portfolio of programs, as well as increase the scope of their use on various digital media platforms at home and abroad. We are looking forward to achieve common benefits of cooperation with our new majority shareholder “- emphasizes Markus Tellenbach, president and CEO of TVN SA. Kenneth W. Lowe, chairman, president and CEO of Scripps Networks Interactive, said: “The acquisition of TVN is an extremely important step in the international expansion strategy Scripps Networks Interactive, thanks to which we occupied a leading position in one of the most important media markets in Central Europe . TVN is a strong and profitable company, managed by great staff managers under the leadership of Markus Tellenbach. We believe that our commitment to provide continued long-term growth of the company “. Resigned all your previous board of TVN. “1 July 2015. The Company received information about resignation from the position of the members of the Supervisory Board with effect from 1 July 2015. At 11: 00 by the following members of the Supervisory Board: Dr. Arnold Bahlmann, Mr. Rodolphe Belmera, Mr Michael Broniatowski Lord Paul Gricuk, Ms. Sophie Guieysse, Mr. Wojciech Kostrzewa, Mr. Bertrand Meheut, Dr. Wieslaw Rozłucki, Mr. Bruno Valsangiacomo, Mr. Piotr Walter and Mrs. Aldona Wejchert “- written in the statement of TVN.