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Monday, March 16, 2015

US firm Scripps to pay 584 million euros for majority stake in Polish TVN, (NYQ: SNI)

U.S. media group Scripps Networks Interactive, owner of the Travel Channel, agreed to purchase a majority stake in Polish broadcaster TVN for 584 million euros ($613.84 million), both sides said on Monday. The 52.7-percent stake is currently held by Polish financial holding ITI and French Vivendi. Under the agreement, the U.S. group will also take on debt worth 840 million euros.

Scripps Networks Interactive, Inc. is a developer of lifestyle-oriented content for television and the Internet with television and interactive brands. Shares of SNI fell by 0.77% or $-0.56/share to $71.91. In the past year, the shares have traded as low as $70.39 and as high as $86.48. On average, 950316 shares of SNI exchange hands on a given day and today's volume is recorded at 567580.