Scripps Networks Interactive acquired majority stake in TVN
On the 12th of March, representatives of Scripps Networks Interactive - Jim Samples and Joseph G. NeCastro together with Chairman of the Supervisory Board, TVN - Wojciech Kostrzewa met with the National Broadcasting Council’s members.
ITI Media Group Limited, a subsidiary of ITI Group, together with Canal+ SA signed a share purchase agreement from N-Vision with Southbank Media, a subsidiary of Scripps Networks Interactive. Under the agreement Scripps holds 52.7 percent of the TVN shares.
Scripps Networks Interactive is an American media conglomerate headquartered in Knoxville, Tennessee, represented by a subsidiary Southbank Media, based in the United Kingdom.
Subsidiaries of foreign persons, whose registered office or place of residence is located in the European Union Member States, Iceland, Norway and Liechtenstein, are not subject to provisions of art. 40a of the Broadcasting Act. It means that while purchasing shares they are not obligated to apply for Chairman of the National Broadcasting Council’s permission.
Scripps Networks Interactive is a broadcaster of Travel Channel and Polsat Food channel, which are available in Poland. The company is also producing content for many lifestyle media platforms.
Jim Samples – president of the International for Scripps Networks Interactive oversees the strategic and ongoing international activities, as well as international program licensing business. Joseph G. NeCastro – Chief Development Officer is responsible for the financial management and administrative operation of the company.