TVN asset disposal continues
April 16, 2012 07.27 Europe/London By Chris Dziadul
The Polish media group TVN, whose interests include the DTH platform n and portfolio of TVN-branded thematic channels, has put up its Onet.pl portal up for sale.
In a statement, it says that it has entered into exclusive negotiations with Ringier Axel Springer Media with a view to forming a strategic partnership, with negotiations between the two parties to last no longer than May 31 this year.
TVN adds that it intends to retain a minority stake in Onet.pl.
Local reports speculate than TVN is unlikely to get its asking price for Onet.pl, which is valued at around PLN1.4 billion (€332.6 million).
As a result, it may enter into a similar equity agreement to that reached last year with Canal+ Cyfrowy over the merger of its DTH platform n with Cyfra+.