Petr Kellner is close to acquiring TV Markíza

The PPF group of wealthiest Czech Petr Kellner is close to acquiring TV Markíza, say sources of the N daily. The price should top €300m, 15-times its EBITDA profit. PPF has also submitted a bid to acquire Czech TV Nova, which is also owned by CME (Time Warner). Neither PPF nor CME commented on the deal. CME might stay on the Slovak market as it might form a joint venture with PPF to purchase foreign movies. Penta, which had been in talks to acquire CME in 2017, is not interested now.

The exit of a multinational firm from TV Markíza will reduce its ability to resist pressure from local oligarchs and politicians. Quality journalists have tended to leave media owned by Penta and Andrej Babiš.

(N/2)