Time Warner, Vivendi Are Frontrunners For Polish TVN - Report

Date : 09/22/2011 @ 3:04AM
Source : Dow Jones News
Stock : Brt Apartments Corp. (MD) (BRT)
Quote : 13.43  0.12 (0.90%) @ 4:04PM

Time Warner, Vivendi Are Frontrunners For Polish TVN - Report

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Media firms Time Warner Inc. (TWX) and Vivendi (VIV.FR) are frontrunners to win the auction for Polish broadcaster TVN SA (TVN.WA), Polish daily Puls Biznesu reports, citing anonymous sources.

Polish entertainment group ITI Holdings SA, which holds 56% of TVN, said in July it was considering a possible sale of its entire stake. It wasn't immediately available for comment.

Bertelsmann AS isn't among the potential buyers, accordign to Puls Biznesu, but the daily added that private equity funds are looking for strategic partners to jointly purchase TVN and then divide up its various businesses.

In late August, Vivendi Chief Executive Jean-Bernard Levy said the company is looking for small to medium-sized acquisitions to boost its presence in emerging markets. He declined to comment on suggestions the group may be interested in TVN. "We never comment on any particular rumor," Levy said, but added the company is "very attentive" to what is happening in Poland where it already has operations.

Newspaper website: www.pb.pl

-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431; marynia.kruk@dowjones.com

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