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Scripps Networks Interactive Closes Tender Offer for Poland´s TVN
Thursday 03 September 2015

3 September 2015 - US-based media company Scripps Networks Interactive, Inc. (NYSE: SNI) has concluded its tender offer for all outstanding shares of Polish multi-platform media company TVN, the company said on Thursday.

The company acquired approximately 46% of TVN shares at a cost of 3,134.4 m zloty (approximately USD 833.1m), or 20.00 zloty (approximately USD 5.32) per share, through the tender offer.

Scripps Networks Interactive previously announced and completed the execution of its agreement to acquire 52.7% of TVN from ITI and Canal+ Group in March 2015 and subsequently said its intention to acquire all remaining shares through a public tender offer.

The comapny now owns 98.8% of TVN, and the company will execute a squeeze out process to acquire all remaining outstanding TVN shares.

TVN has a portfolio of free-to-air and pay-TV lifestyle and entertainment channels including TVN, TVN 7, TVN Style, TTV, TVN Turbo as well as Poland's leading 24-hour news channel, TVN24, and business news channel TVN24 Biznes i Swiat.
Date Published: 03/09/2015
Target: TVN
Country: Poland
Deal Size: 640.53m (USD)
Sector: Media
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor: ITI and Canal+
Buyer: Scripps Networks Interactive, Inc
Buyer Advisor: Barclays , Blackstone Advisory Partners , Latham and Watkins LLP