Poland’s National Broadcasting Council (KRRiT) has revealed what could be a major obstacle for companies wishing to acquire the commercial broadcaster TVN.
It is currently seeking a new majority owner and has been linked with – amongst others – Discovery Communications and Time Warner.
According to Wirtualne Media, the KRRiT commissioned a legal analysis on the acquisition of TV broadcasting assets in Poland.
It concluded that prospective buyers from outside the European Economic Area, which besides the EU countries includes Iceland, Norway and Liechtenstein, would first have to obtain the permission of the KRRiT before finalising any acquisition.
It adds that the legal analysis says permission will not be granted if the share of foreign buyers – companies or persons – in the company’s shares exceeds 49% and the agreement or articles of association do not comply with the Broadcasting Law.
Furthermore, permission will not be granted if it would involve a threat to national culture, good behaviour and education, security and defence raise the prospect of the buyer securing a dominant position in the marketplace.
The results of the sale of a majority stake in TVN are expected to be announced later this month.
