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DZP is representing Scripps Networks Group in the process of TVN Group acquisition

16.03.2015

Autorzy:
Krzysztof A. Zakrzewski
Agata Mierzwa
Magdalena Skowrońska
Wojciech Dziomdziora
Piotr Jackowski
Maciej Zajda

Domański Zakrzewski Palinka advised the US Scripps Networks Interactive Group in connection with the acquisition of a controlling stake of TVN shares from ITI Group and Canal+ Group. The transaction involved the acquisition by Scripps of 100% of shares in N-Vision, which at the stage of the purchase agreement settlement will hold approximately 52.7% of TVN shares. The price for 100% of shares in N‑Vision is EUR 584 million, that is approximately PLN 2.4 billion. The price includes the takeover by Scripps of debt on account of bonds issued by companies from the TVN Group, of the total value in the range of EUR 840 million.

Transaction closing is dependant upon the fulfillment of conditions precedent usual for transactions of that type, such as obtaining appropriate regulatory approvals. DZP along with the US law office Latham & Watkins LLP provided advice in connection with all legal aspects of the transaction.

Scripps Networks Interactive is one of the leading developers of engaging lifestyle content in the home, food and travel categories for television, the Internet and emerging platforms, but in Poland the company is not very well known. Its lifestyle media portfolio comprises popular television and Internet brands HGTV, DIY Network, Food Network, Cooking Channel, Travel Channel and Great American Country, which collectively reach more than 190 million consumers each month.

TVN is the leading media company in Poland which broadcasts several television channels, including TVN, TTV and TVN 7 (broadcast as digital terrestrial television), and TVN 24, TVN 24 Biznes i Świat, TVN Meteo, TVN Turbo, TVN Style, iTVN, iTVN Extra, Telezakupy, Mango and NTL. The TVN group also has the VOD platform Player.pl and the news portal tvn24.pl. This year two channels are to be launched: TVN Sportive and TVN Fabuła.

The DZP lawyers who advised Scripps Networks International were Krzysztof Zakrzewski and Magdalena Skowrońska together with Wojciech Dziomdziora, Piotr Jackowski, Agata Mierzwa and Maciej Zajda.