16 March 2015

TVN24

Joe NeCastro, chief development officer, Scripps Networks Interactive, speaks about the Scripps-TVN acquisition on TVN24.

 

[Translated from the original Polish]

"This is a situation in which the buyer and purchased win" - said Joe NeCastro, Chief Development Officer of Scripps Networks Interactive, a company that has acquired a majority stake in TVN. Markus Tellenbach, President and Chief Executive Officer of TVN SA stressed, however, that this is a new chapter in the development of TVN.

ITI Group and Canal + Group entered into an agreement to sell a majority stake in TVN. The buyer is Southbank Media Ltd., a British company owned by the American company Scripps Networks Interactive.
 
Markus Tellenbach, President and Chief Executive Officer of TVN SA stressed that this transaction is a fantastic event. - TVN received the best possible shareholder. "For us it's the start of a new chapter, I am very happy that we worked," he said.
 
As he spoke, Scripps and TVN are companies that have very much in common, and will also be complementary. He stressed that before TVN open up new perspectives.
Tellenbach noted that through this transaction TVN will benefit primarily on technology. "Experience Scripps is something that we can use, because the company makes us ahead in this regard. We are working at the moment on two new sites. It will be a great opportunity to show innovation of our company, as well Scripps implements," he said
 
President and Chief Executive Officer of TVN SA stressed that the transaction strengthens TVN. "For the Poles, it is also a clear signal that we know where it's going and what will be our future. We have a shareholder who is planning a long-term and it is not a company that we sell in a few years, and these are all very serious advantage,"he said.
 
Tellenbach said that Scripps can help TVN gain access to the best American programs. He noted that the company will develop, an evolution.
 
Joe NeCastro, Chief Development Officer of Scripps Networks Interactive explained that Scripps is a family company with a long tradition, which has existed for 140 years. It employs 2,000 people, mostly in the United States, as well as in Europe, South America and Asia. Its value is $ 10.5 billion, and its revenues are $ 2.7 billion.
 
"The company and the family that owns it are very happy with the transaction," said NeCastro.
 
He explained that SNI few years ago decided to expand outside of the US and global market development. He pointed out that both Scripps and TVN, the creators of valuable programs.
 
"Both companies believe in it, so we were looking for similar companies in other markets. For us, TVN is a unique opportunity, there are very few profitable companies on the market that are carried out in a good way, with great management, so this is a situation where you and the buyer, and purchased win on this transaction," NeCastro noted.

He stressed that Scripps is an innovative company, thanks to innovative employees. "That's why we are delighted that Markus and his team join us, as repeatedly demonstrated its innovation, and this is very important in this industry, including due to the technological changes that are taking place," he said.
He pointed out that the board supports SNI-TVN and its strategy.

"It is almost a dream deal. We speak the same language, we get along great. We were impressed by how good the team is TVN, and we are very happy with this collaboration," he added.
 

<< Back