Southbank Media €584 million acquisition of TVN

Overview:

• ITI Group—alongside Canal+ Group—has sold a majority stake in TVN, Poland’s leading television broadcaster, to Southbank Media, a UK-based subsidiary of the US media group Scripps Networks Interactive, for a total cash consideration of €584 million.
• Under the terms of the transaction, N-Vision at completion directly and indirectly held a 52.7% controlling stake in TVN, which was acquired by Southbank Media under the Scripps Networks Interactive group of companies.
• Scripps Networks Interactive intends to take advantage of the growth in Poland's media market, with TVN's strong portfolio of channels and services aiding its regional plans. 

Adam Majeed - Regional editor