Czech businessman Michal Strnad, owner of the defense conglomerate Czechoslovak Group (CSG), is reportedly in talks with investment group PPF over the possible acquisition of TV Markíza, Slovakia’s largest commercial television broadcaster, IntelliNews reports.

According to a source familiar with the situation, both sides have already moved into a due diligence phase, suggesting the discussions may be relatively advanced. However, neither party has officially confirmed the negotiations.

CSG’s spokesperson Andrej Čírtek said that “CSG is not pursuing an acquisition of any media activities”. However, Čírtek did not explicitly rule out that Strnad could be involved in the Markíza talks in a private capacity. “On a long-term basis Mr. Michal Strnad is not making public comments regarding his personal or investment activities that do not directly concern CSG,” Čírtek told IntelliNews.

PPF also declined to comment directly, stating only that it does not respond to market speculation and that media remains a core part of its business. Head of communications at PPF Goup Leoš Rousek stated "we don't comment on market speculation" and that "media is a core asset vertical of PPF" in response to IntelliNews queries regarding Markíza.

TV Markíza is the most-watched television station in Slovakia and plays a major role in shaping public opinion, particularly through its popular political program Na telo. It is owned by PPF through Central European Media Enterprises (CME), which operates dozens of channels across Central and Eastern Europe.

The potential sale is likely to spark controversy, mainly due to Strnad’s strong presence in the defense industry and his company’s significant contracts with the Slovak state. Critics argue that ownership of a major media outlet by a figure closely tied to government business could raise concerns about editorial independence.

Media experts warn that control of Markíza would bring considerable influence, especially ahead of upcoming elections. Concerns about political pressure on media have already been growing in Slovakia in recent years, particularly following disputes inside Markíza’s newsroom in 2024, which led to staff departures and public criticism.

At the same time, CSG has been under increased scrutiny after its recent record-breaking stock market debut was followed by negative media coverage questioning its transparency and political connections.

For PPF, a potential sale could also reflect reputational considerations after past controversies surrounding its media operations in the region.

While interest in Markíza from powerful business figures is not new, any deal involving Strnad would likely face close public and regulatory scrutiny. For now, the outcome of the talks remains uncertain.