Warner Bros. Discovery (WBD) has announced it will no longer be selling its Polish television operations, TVN. This decision follows a strategic review undertaken by the company.
In a statement released to employees on Monday, Kasia Kieli, head of Warner Bros. Discovery in Poland and CEO at TVN, and Gerhard Zeiler, president of WBD International, explained the rationale behind the change of plans. “WBD has concluded that the best path forward is retaining ownership of TVN, continuing to support our business, our strategy and the incredible journalistic work of our team,” the statement read.
The TVN Group encompasses several channels, including the prominent 24-hour news channels TVN24 and TVN24BiS. Initial interest in acquiring TVN had been expressed by Polish businessman Michal Solowow, through his MS Galleon fund and media group WP Holding, and MediaForEurope. However, it is understood that Solowow withdrew his bid, reportedly due to economic uncertainties. MediaForEurope also abandoned its bid earlier this year. According to reports in the Polish media, WBD paused the sale process before any formal bids were submitted.