Scripps eyes full TVN ownership

US media group Scripps Networks Interactive (SNI) is to make an offer that could see it take complete ownership of Polish commercial broadcaster TVN.

It comes after SNI submitted an offer in March of €584m (US$615.3m) to financial holding firm ITI Group and French media giant Vivendi for a 52.7% stake in Poland’s second largest private TV network.

Under Polish law, SNI is required to initiate a mandatory public tender offer to increase its ownership interest in TVN to 66% within three months of completion of the purchase of the 52.7% stake.

The company additionally intends to offer to purchase the remaining public ownership in TVN, and delist it from the Warsaw Stock Exchange. No price for the offer has yet been set.

SNI, which owns Travel Channel and Food Network, will make the offer once its majority ownership stake is confirmed.

TVN has free-to-air and pay TV assets including a 24-hour news channel, and its broadcasting business captured around 22% of Polish viewing last year.

“Taking full ownership of TVN will enable Scripps Networks Interactive to fully realise the strategic and financial opportunities afforded by the TVN acquisition,” said Kenneth W. Lowe, chairman, president and CEO of SNI.

“TVN is a strong and compelling business in one of Europe’s key media markets, and under Markus Tellenbach’s leadership it will play an important role in our continued expansion in the region.”

In related news, SNI has promoted two executives at its in Latin American arm as it continues to roll out Food Network across the region.

Claudia Clauhs, a former programming director at Fox, has become VP of programming for the division, while former Apple exec Adriana Alcântara has been promoted to VP of marketing and production, effective immediately.

Both execs helped launch Food Network in Brazil and will continue to be based in São Paulo, where they report directly to Márcio Fonseca, MD of Scripps Networks Latin America.

The pair joined Scripps Networks in 2013 in the roles of director of programming and director of marketing and production, respectively.