Warner Bros. Discovery has decided not to sell Polish broadcaster TVN, it said in a statement on Monday, drawing a line under speculation surrounding the bidding process. The volatility unleashed on financial markets by U.S. President Donald Trump's tariff policies has led many investors to put deal-making activity on hold.

"As we shared with you several months ago, as part of a normal process for a publicly traded company, WBD conducted a strategic review of options for TVN," the company said in a statement sent to staff and seen by Reuters.

"That review has been completed, and WBD has concluded that the best path forward is retaining ownership of TVN, continuing to support our business, our strategy and the incredible journalistic work of our team."

A source told Reuters that one bidder had dropped out of the race to buy TVN due to geopolitical risks and fears of recession.

In late December, Reuters, citing four people close to the matter, reported that Warner Bros. Discovery is working with investment bank JPMorgan in the sale process of the TVN Group. In recent weeks, JPMorgan has contacted companies potentially interested in buying the Polish broadcaster. They are to receive a set of detailed information about the TVN Group at the beginning of next year. “When analyzing the sale of TVN, we will give priority to its status as an independent news broadcaster,” said the company's spokesman. According to two Reuters sources, the TVN Group could be valued at over 1 billion euros.

In February, Reuters reported that the MFE-MediaForEurope, owned by the Berlusconi family, had withdrawn from its efforts to buy TVN –the company wants to acquire a further block of shares in ProSiebenSat.1 through a stock exchange tender offer.

TVN Group became part of the Discovery Group at the beginning of 2018, when it finalized the acquisition of Scripps Networks Interactive, the previous owner (since mid-2015) of the Polish broadcaster, for $14.6 billion. The TVN capital group offers 12 television stations (TVN, TVN7, TTV, TVN24, TVN24 BIS, TVN Style, TVN Turbo, HGTV, TVN Fabuła, TVN International, TVN International West, TVN International Extra) and a group of internet services (led by TVN.pl and TVN24.pl). In addition to TVN, the capital group primarily owns 100% of the shares of the advertising broker TVN Media and the Stavka company broadcasting TTV, as well as 32% of the shares of Canal+ Polska.

In 2023, the TVN Group increased its revenue by 5%. to PLN 2.25 billion, and with a much weaker increase in costs, its net profit went up from PLN 331.8 to PLN 419.7 million. The broadcaster employs 2.400 people.