Poland to examine impact of change in TVN’s indirect owner on security — RMF24

In Poland, the Ministry of State Assets will conduct administrative proceedings regarding a change in the indirect owner of the TV channel TVN. The review will concern the impact of Paramount Skydance’s deal to acquire Warner Bros. Discovery on security or public order in the country, RMF24 reports.

Change in indirect control over TVN

Paramount Skydance on Tuesday completed the acquisition of Warner Bros. Discovery, TVN’s previous owner. The deal is worth $110 billion. In July, the European Commission conditionally approved the merger.

Przemysław Kuk, director of the Communications Department at the Ministry of State Assets, told the Polish Press Agency that the deal means the indirect acquisition of control over TVN S.A. within the meaning of the Act of July 24, 2015, on the control of certain investments. The Minister of State Assets must be notified of this change under the ex post procedure, that is, after the deal has been completed.

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90 days allocated for review

After receiving the notification, the Minister of State Assets will have 90 days to conduct the procedure. As a result, the supervisory authority may either not find the exercise of rights attached to TVN S.A. shares by the shareholder inadmissible or, conversely, find such exercise of rights inadmissible.

In the event of a negative decision, the Minister of State Assets may order the sale of TVN S.A. shares within a specified period, the ministry representative said.