Warner Bros. Discovery rolls back on plans to sell Poland's TVN
US-based Warner Bros. Discovery (WBD) media giant has decided to preserve Poland's private broadcaster TVN as part of the corporation after possible future investors fear uncertainty on financial markets.
In a statement emailed to TVN employees on Monday and shared with PAP by the broadcaster, the corporation wrote that plans to hand the media outlet over to another owner were not "uncommon for publicly traded companies."
"Over the last few months, we have been reviewing the strategic options for TVN... Today, we wanted to inform you that we have finished this phase," the company wrote, adding that TVN would be kept within the WBD structure with the aim to shape its business as "one entity".
According to Polish media reports, Polish billionaire Michal Solowow was the biggest bidder ready to take over one of the country's biggest media outlets. Yet the magnate backtracked from his deal-making plans amid fears of recession and volatility in the US financial markets caused by US President Donald Trump's new tariffs policy, the Polish Business Insider wrote on April 9, citing unofficial sources.
According to Polish media estimates, the TVN media group, which broadcasts on 24 TV channels, a news portal, and a streaming platform, had a price tag of EUR 1 billion.
In December last year, TVN was added to the list of enterprises safeguarded by the government against hostile takeovers. The list also includes private television stations Polsat and Cyfrowy Polsat, telecom companies, and firms operating in such sectors as defence, energy, fuels, mining, chemicals and petrochemicals. (PAP)
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