Reginal Thomas
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Bauer Media Closing To Buying TVN

Bauer Media Group is close to acquiring a controlling stake in TVN, a Polish broadcaster, by the end of the month. Multiple media giants have been seen a potential buyers for TVN after Vivendi and ITI said last year they were looking to sell their 51% stake. Markus Tellenbach, TVN's Chief Executive, said talk were continuing, thought it was not clear when any deal might be struck. Back in November, he said he expected about a dozen different bidders for the majority stake. Bauer Media operates in 16 countries, running over 600 magazine, more than 400 digital media outlets, and over 50 radio stations worldwide. TVN has a market value of $1.7 billion on the Warsaw bourse.