long story short?
Ringier Axel springer bought onet.pl!
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6 Jun 2012, 18:37
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Journals
WARSAW, April 13 (Reuters) - Polish broadcaster TVN is in talks with Ringier Axel Springer (RAS), German publisher Axel Spinger's joint venture with Swiss Ringier, over partnership in Onet.pl, which could see RAS taking control of Poland's top web portal, TVN said.
TVN added in its Friday statement that exclusive talks will run until the end of May, with the Polish broadcaster planning to keep a minority stake in Onet.pl, valued in TVN's books at around 1.4 billion zlotys ($442.5 million).
Axel Springer, publisher of Germany's biggest selling daily Bild as well as such titles as Die Welt, runs a joint-venture portfolio of over 70 titles in central and eastern Europe with Ringier.
The talks may end up in yet another partnership with a large European media player on the part of TVN.
In December it agreed with Vivendi to join their Polish pay-TV operations as part of a wider deal that could see the French media and telecoms group ultimately taking control of TVN itself.
One of Poland's top two private broadcasters struggles under a burden of a large foreign-denominated debt pile susceptible to currency swings after it bought a loss-making pay-TV unit from its parent company ITI.
"TVN shares may react positively," Ipopema analyst Waldemar Stachowiak said. "Sale of assets in a highly indebted company may be taken well."
"One thing is noticeable - the use of the 'strategic partnership' formula, which suggests a similar deal to that with Vivendi. That means that TVN's minority shareholders will rather not see the potential benefits from the transaction."
The sudden death of one of co-founders of both TVN and ITI in 2009, ITI's own debt struggles, and a weakening advertising market all led TVN and its parent company to capitalise on its assets and look for possible tie-ups.
TVN has relied on local editions of shows including the X-Factor and Dancing with the Stars, as well as its own productions, to become one of Poland's largest broadcasters and media groups. ($1 = 3.1637 Polish zlotys) (Reporting by Adrian Krajewski and Agnieszka Barteczko)
TVN added in its Friday statement that exclusive talks will run until the end of May, with the Polish broadcaster planning to keep a minority stake in Onet.pl, valued in TVN's books at around 1.4 billion zlotys ($442.5 million).
Axel Springer, publisher of Germany's biggest selling daily Bild as well as such titles as Die Welt, runs a joint-venture portfolio of over 70 titles in central and eastern Europe with Ringier.
The talks may end up in yet another partnership with a large European media player on the part of TVN.
In December it agreed with Vivendi to join their Polish pay-TV operations as part of a wider deal that could see the French media and telecoms group ultimately taking control of TVN itself.
One of Poland's top two private broadcasters struggles under a burden of a large foreign-denominated debt pile susceptible to currency swings after it bought a loss-making pay-TV unit from its parent company ITI.
"TVN shares may react positively," Ipopema analyst Waldemar Stachowiak said. "Sale of assets in a highly indebted company may be taken well."
"One thing is noticeable - the use of the 'strategic partnership' formula, which suggests a similar deal to that with Vivendi. That means that TVN's minority shareholders will rather not see the potential benefits from the transaction."
The sudden death of one of co-founders of both TVN and ITI in 2009, ITI's own debt struggles, and a weakening advertising market all led TVN and its parent company to capitalise on its assets and look for possible tie-ups.
TVN has relied on local editions of shows including the X-Factor and Dancing with the Stars, as well as its own productions, to become one of Poland's largest broadcasters and media groups. ($1 = 3.1637 Polish zlotys) (Reporting by Adrian Krajewski and Agnieszka Barteczko)
4
germans bought polish news agency
"Die Welt" - german daily newspaper which reports about "polish concentration camps" in the 2nd world war -- nice to see polish media under nazi control
didnt read
