CANAL+, TVN finalise merger creating Poland’s “leading” premium pay-TV operator

Editor | 03-12-2012

CANAL+ and TVN have finalised the merger of their 'n' and CYFRA+ pay-TV platforms into what they claim will be Poland’s leading premium pay-TV operator.
According to the terms of the strategic cooperation agreements, CANAL+ Group will hold a 51% stake in the new concern, the TVN Group 32% and LGI Ventures (UPC) 17%.
TVN said that the creation of nc+ marks the final step of TVN’s pay-TV market consolidation strategy, designed to enable the company to benefit from important synergies which it says are driven by revenue growth and cost optimisation, whilst securing its content distribution.
Julien Verley, currently senior vice president fnance and strategy of CANAL+ Group in France, is to be the new CEO of nc+. Commenting on the creation of the new firm and his new role, Verley said: “The merger of 'n' and CYFRA+ creates a leading company in a very competitive pay-TV market. With outstanding content, state-of-the art technology and experienced teams of employees, the new nc+ platform will appeal to a large number of Polish households. With the backing of two major TV companies, CANAL+ Group and TVN Group, nc+ will have all necessary means to grow its business and deliver to its customers the best TV experience in the Polish market."
Added Markus Tellenbach, president and CEO of TVN Group commented: ”The merger between 'n' and CYFRA+ creates substantial value for our shareholders and allows TVN Group to benefit from the strategic cooperation with CANAL+ Group whilst securing TVN’s content distribution on the leading premium pay-TV platform nc+. I am very pleased that Julien Verley has joined the TVN Group and agreed to take over the CEO position at nc+. His deep industry knowledge and profound experience in the Polish pay-TV market supported by a first class management team ensures a smooth merger execution.”