Canal Plus to complete TVN deal “within weeks”
November 10, 2011
Canal Plus is expected to complete its due diligence of Polish broadcaster TVN within weeks, ahead of a planned merger of the two companies’ pay-TV units, TVN Chief Executive Markus Tellenbach told a press conference. The companies have yet to determine the proportion of stakes each will get in the merged pay-TV firm, he added.
The firms said earlier in November they plan to merge their Polish pay-TV businesses into a joint venture in which TVN will have a significant minority stake. The transaction is part of an exit of some minority shareholders from ITI Holdings, TVN’s parent company.
Tellenbach also said TVN’s web portal, Onet, isn’t for sale and no work is underway to sell it. Onet is an integral asset of TVN, he said.