Scripps Networks Interactive Completes Tender Offer for Polish Media Company TVN
September 03 2015 - 7:16AM
Business Wire
Scripps Networks Interactive, Inc. (NYSE: SNI), one of the
world’s leading developers of lifestyle content for television,
internet and mobile platforms, has concluded its tender offer for
all outstanding shares of TVN, Poland’s premier multi-platform
media company.
The company acquired approximately 46 percent of TVN shares at a
cost of 3,134.4 million zloty (approximately $833.1 million), or
20.00 zloty (approximately $5.32) per share, through the tender
offer. Scripps Networks Interactive previously announced and
completed the execution of its agreement to acquire 52.7 percent of
TVN from ITI and Canal+ Group in March 2015 and subsequently stated
its intention to acquire all remaining shares through a public
tender offer.
Scripps Networks Interactive now owns 98.8 percent of TVN, and
the company will execute a squeeze out process to acquire all
remaining outstanding TVN shares.
TVN is one of the leading media companies in Poland with 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.
Forward-looking statements
This press release contains certain forward-looking statements
related to the company’s businesses that are based on management’s
current expectations. Forward-looking statements are subject to
certain risks, trends and uncertainties, including changes in
advertising demand and other economic conditions that could cause
actual results to differ materially from the expectations expressed
in forward-looking statements. All forward-looking statements
should be evaluated with the understanding of their inherent
uncertainty. The company’s written policy on forward-looking
statements can be found on page F-4 of its 2014 Form 10-K filed
with the Securities and Exchange Commission. The company undertakes
no obligation to publicly update any forward-looking statements to
reflect events or circumstances after the date the statement is
made.
About Scripps Networks Interactive
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. The company's
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. Companion websites
complement on-air programming with video and social media that
inform and inspire. The company’s global networks reach millions of
consumers across North and South America, Asia, Europe, the Middle
East and Africa. Scripps Networks Interactive is headquartered in
Knoxville, Tenn. For more information, please visit
http://www.scrippsnetworksinteractive.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150903005121/en/
Scripps Networks InteractiveMedia:Dylan Jones,
865-560-5068djones@scrippsnetworks.comorLee Hall,
865-560-3853lhall@scrippsnetworks.comorInvestors:Mike Gallentine,
865-560-4473mgallentine@scrippsnetworks.com
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