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ITI Group and Canal+ Group announce the completion of the sale of their controlling stake in TVN, Poland’s leading commercial broadcaster, to Southbank Media Ltd., London, a member of the Scripps Networks Interactive Inc. group.

On 1 July 2015 ITI Group and Canal+ Group sold their entire stake in N-Vision B.V., Amsterdam, which holds directly and indirectly a 52.7% controlling stake in TVN, to Southbank Media Ltd, London, which is part of the Scripps Networks Interactive group of companies. The cash consideration for the ITI Group and Canal+ Group amounts to EUR 584million. Southbank Media Ltd., London, will assume the EUR 300million 11%/12% Senior PIK Toggle Notes issued by Polish Television Holdings B.V..

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Contact: ITI Services Ltd.
Phone:: +41 44 258 8840
e-mail: kontakt@iti.pl, info@itiholdings.com

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