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TVN S.A. AND RINGIER AXEL SPRINGER MEDIA AG IN EXCLUSIVE NEGOTIATIONS ON ONET TARGET TO CREATE STRATEGIC ALLIANCE

04/13/2012 | 02:51am EDT
PRESS RELEASE TVN S.A.

166 Wiertnicza St.

02-952 Warsaw, Poland tel. +48 22 856 60 60

fax. +48 22 856 66 66 www.investor.tvn.pl www.tvn.pl www.onet.pl

www.n.pl www.tvn.pl/grupatvn/media

TVN S.A. AND RINGIER AXEL SPRINGER MEDIA AG IN EXCLUSIVE NEGOTIATIONS ON ONET TARGET TO CREATE STRATEGIC ALLIANCE

Warsaw 13th April 2012. - TVN S.A. ("TVN") the leading Polish Media Group announces that, as part of its comprehensive strategy review, it has decided to enter into exclusive negotiations with Ringier Axel Springer Media AG. The process envisages entry into a strategic partnership in Onet.pl.
The Company has granted Ringier Axel Springer Media AG exclusivity to negotiate the terms and conditions of the partnership for a definite period until May 31, 2012 and approved the preliminary terms of the partnership. TVN expects to retain a minority stake in Onet and is expected to continue to be involved in the joint development.
Markus Tellenbach, President & CEO of TVN S.A. said: "Onet is ideally positioned to expand the scope of its operations and engage in new projects benefitting from the fast paced evolution of the Polish media landscape as well as the rapidly expanding online market whilst creating significant value for its shareholders. A future partnership with Ringier Axel Springer Media AG would allow Onet to dynamically develop it's existing business as well as benefit from complementary strength of a new ownership structure."
TVN is the leading Polish television broadcaster owning and operating ten television channels, the digital pay-TV platform "n" and Onet.pl, Poland's largest and most popular internet portal.
Ringier Axel Springer Media AG is a leading integrated multimedia company in Central and Eastern Europe, managing an extensive portfolio of over 70 print titles and more than 60 digital offerings in the expanding markets of Poland, the Czech Republic, Slovakia and Serbia.
For further information please contact:
Tomasz Po


© Publicnow 2012
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