Time Warner and Discovery Communications have emerged as the front-runners to buy a majority stake in the Polish national commercial broadcaster TVN.
At the same time, report Puls Biznesu and Wirtualne Media, Bertelsmann appears to have dropped out of the running while 21st Century Fox and Liberty Global are understood to be not interested.
However, Axel Springer may put in a bid, as could the investment funds Permira and Providence Equity Partners.
ITI and Canal+ currently control 51% of TVN and last month indicated they are willing to consider selling their stake in the broadcaster.
The value of the stake is believed to be in the region of PLN3 billion (€711 million) to PLN3.5 billion.
Time Warner is currently the majority shareholder in Central European Media Enterprises (CME), which jointly launched TVN with ITI Group in the mid-1990s before exiting the Polish market.
Meanwhile, Discovery Communications has a strong presence in Poland through a number of its thematic services.
