Warner Bros Discovery has initiated the process of selling TVN Group, a major Polish media broadcaster, according to sources familiar with the matter. Discussions with potential buyers have already begun, with sales materials expected to be distributed early next year, two sources told Reuters.

In a statement, a Warner Bros Discovery spokesperson emphasized the company’s commitment to maintaining TVN’s independence, stating: “As we evaluate a sale of TVN, we will prioritize its independent news status.”

Investment bank JPMorgan, which is reportedly managing the sale process, declined to comment. TVN Group has also referred all inquiries to Warner Bros Discovery.

Valuation and Market Interest

TVN Group, which operates 24-hour news channels TVN24 and TVN24BiS, is a key player in Poland’s media landscape. The broadcaster could command a valuation exceeding 1 billion euros ($1.04 billion) in the potential sale, according to two sources.

The four individuals who disclosed the information requested anonymity, citing the private nature of the discussions.

Strategic Move Amidst Industry Shifts

The decision to sell TVN Group comes at a time of significant transformation in the global media industry. For Warner Bros Discovery, the sale aligns with its strategy of streamlining its portfolio to focus on core assets.

TVN Group’s prominent position in Poland’s media sector, combined with its robust news and entertainment offerings, is expected to attract considerable interest from both domestic and international buyers.

This potential sale could also spark debates about media ownership and independence in Poland, a country where press freedom has been a topic of intense discussion in recent years.

As the sale progresses, Warner Bros Discovery’s assurance of prioritizing TVN’s independent news status will likely be closely scrutinized by both industry observers and the public.