- December 17, 2021
- Posted by: Stratford Team
- Category: Business
In a shocking turn of events, Discovery is facing a potential sale of its business in Poland following the parliamentary greenlight for a controversial new media bill.
Known as Lex TVN, the bill looks to prevent non-European ownership of Polish media companies. It was first proposed in July by Poland’s ruling conservative Law and Justice party (PiS), which said that TV and radio license holders shouldn’t be directly or indirectly controlled by entities that aren’t in the European Economic Area.
The new media law puts a target squarely on Discovery, the U.S. owners of Poland’s TVN Group, which operates the country’s most prominent news channel, TVN24. Valued at around $2 billion, TVN represents America’s largest investment in Poland.
The bill was making its way around the houses of parliament over the summer. Although the Senate moved to reject the bill in September, it was voted through by the Sejm (lower house of parliament) on…