Warner Bros. Discovery Inc. has received non-binding offers for its Polish broadcaster TVN from at least three bidders, according to sources familiar with the matter. Among the bidders is MFE-MediaForEurope a broadcaster controlled by Italy's Berlusconi family, two sources told Reuters. Polish businessman Michal Solowow, through his MS Galleon fund, and media group WP Holding have also made offers.
MFE's initial offer focuses solely on TVN's free-to-air business, which generates EBITDA of approximately 500 million zlotys ($123.71 million), according to sources. MFE has declined to comment on the offer. In December, Warner Bros. Discovery hired JPMorgan to advise on the sale of TVN Group, which includes news channels TVN24 and TVN24BiS. TVN Group could be valued at over 1 billion euros ($1 billion), according to Reuters. MFE's interest is limited to the free-to-air operations, excluding TVN's news channels, which have raised concerns among Polish authorities due to the potential for election interference ahead of the May elections.
WP Holding has reportedly submitted a joint bid in collaboration with another entity potentially linked to InPost CEO Rafal Brzoska, though Brzoska has denied any involvement. In December, TVN was classified as a strategic company by Polish authorities, meaning any takeover would require government approval.