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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of December, 2002
SBS Broadcasting S.A.
(Translation of registrant's name into English)
8–10 rue Mathias Hardt,
L-1717 Luxembourg
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under Form 20-F or Form 40-F.
Form 20-Fý Form 40-Fo
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yeso Noý
This Form 6-K submitted to the Securities and Exchange Commission is incorporated by reference into the prospectus contained in our Pre-effective Amendment No. 1 to Form F-3 Registration Statement filed with the Securities and Exchange Commission on October 5, 2001.
SBS SELLS 2.6% INTEREST
IN POLISH TV BROADCASTER TVN TO ITI FOR $11 MILLION
—Grants Call Option on Remaining Interest—
Luxembourg, December 30, 2002—SBS Broadcasting S.A. (NASDAQ: SBTV; Euronext Amsterdam N.V.: SBS) announced today that it has sold a 2.6% equity stake in TVN Sp.z o.o. ("TVN") to ITI TV Holdings, a wholly-owned subsidiary of ITI Holdings ("ITI"), for $11 million in cash. In connection with the sale, ITI will have the irrevocable right to purchase all of SBS' remaining 30.4% equity stake in TVN for the greater of SBS' pro rata share of (i) 12 times TVN's average EBITDA (defined as earnings before interest, taxes, depreciation and amortization expenses) for 2002 and 2003 minus TVN's net debt or (ii) 12 times TVN's 2003 EBITDA minus TVN's net debt, with a minimum price consideration of $130 million. The call option is exercisable until December 31, 2003. As a result of the transaction, ITI will own a 69.6% equity interest in TVN. TVN is a leading Polish television broadcaster in which SBS has been a minority shareholder since July 2000.
SBS is a European commercial television and radio broadcasting company with operations in Western and Central Europe. Countries where SBS currently has broadcasting assets include: Austria, Belgium (Flanders), Denmark, Finland, Greece, Hungary, The Netherlands, Norway, Poland, Romania and Sweden.
For further information visit:www.sbsbroadcasting.com, or contact:
| Investors: | Press: | |||
Michael Smargiassi | Alison Bowman | Catriona Cockburn | ||
| Brainerd Communicators | Brainerd Communicators | Citigate Dewe Rogerson | ||
| Tel: +1 212 986 6667 | Tel: +1 212 986 6667 | Tel: +44 207 282 2924 | ||
| Fax: +1 212 986 8302 | Fax: +1 212 986 8302 | Fax: +44 207 282 8040 | ||
| smarg@braincomm.com | bowman@braincomm.com | catriona.cockburn@citigatedr.co.uk |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SBS BROADCASTING S.A. | |||
Date: December 31, 2002 | By: | /s/ MARKUS TELLENBACH Markus Tellenbach Chief Executive Officer | |
FOR IMMEDIATE RELEASE
SBS SELLS 2.6% INTEREST IN POLISH TV BROADCASTER TVN TO ITI FOR $11 MILLION —Grants Call Option on Remaining Interest—
SIGNATURES