ITT Group

ITT Group – Extras

* Based on ITI Group

**ITT Holdings** or **ITT**, doing business as **Grupa ITT Holdings** or **Grupa ITT** in Poland and **ITT Group** internationally, is the largest media conglomerate in Poland and one of the major media companies in Europe. Through its many subsidiaries, ITT owns a number of assets operating in various industries, including ITT Film Studio and ITT Home Video, ITT Cinema movie distributor, NTV Box satellite platform and its operator ITT Neowizja, Multipleks cinema chain and NTV Grupa Temp, broadcaster of Telewizja NTV and Polish versions of Temp channels.

ITT Holdings was founded in 1988 as a holding for ITT Polska electronics importer and snack food producer, the Polish branch of ITT Panama holding company, the owner of the American Unisal home video distributor and importer in Poland under the ITT Video brand. After the fall of communism in 1989, ITT expanded into other industries, such as movie production and broadcasting. ITT expanded into computer hardware and online with the acquisition of Nexus, a Polish PC manufacturer and owner of Net.pl, then known as Next.pl.

Due to being founded in the last years of communism in Poland, controversies surrounding it and its founders and owning offshore companies registered in tax havens, the company is often accused of criminal activities and connections with communist authorities, and sharing their ideologies despite little to no valid evidence being ever discovered. It is often used to discredit NTV24, NTV7 and NTV Grupa Temp's news programs and portals by right-wing politicians and formerly state media corporation RTP.

## History

### Origins: ITT Panama and Foreign Company in Poland ITT

The company has its roots in *Przedsiębiorstwo Zagraniczne w Polsce "ITT"* (*Foreign Company in Poland ITT*), a Polish branch of ITT Panama Polonia company, founded in 1984 during the rapid rise of the private sector following the 1970s regulations that allowed the creation of representative offices and companies with foreign capital in Poland.

ITT began operations in 1985 as a video cassette importer and distributor through Unisal International, a subsidiary of ITT Panama operating in Ireland, later operating as ITT Cinema under the ITT Video brand. Soon, ITT launched ITT Audio-Video Service, a video rental and electronics store chain, which would grow to be one of the most successful video rental stores in Poland.

In 1985, ITT founded ITT Video Service, video advertisement production and video distribution company, which would later become ITT Film Studio. The year 1985 also marked the opening of ITT's first chips factory (the next one would not be opened until 1996 following the acquisition of Acca International and its dairy a year before) and the introduction of Chilly Chips, which stormed the market following the fall of communism in Poland and quickly became one of the most well known chips brands in Poland.

#### ITT Polska

In 1992, Foreign Company in Poland ITT reincorporated into ITT Polska S.A., a publicly traded company wholly owned by ITT Holdings.

### ITT Holdings Group

As the era of communism in Poland was coming to a close, in 1988 saw the founding of **ITT Holdings S.A. Luxembourg**, which soon became the owner of ITT Polska, formerly Foreign Company in Poland ITT.

#### ITT Group

In 2001, with the increasing presence in the media market, ITT Holdings began doing business as **ITT Group**

## Structure

ITT Group is a large conglomerate and holding company with ITT Holdings S.A. Luxembourg at the top of the structure. Starting with ITT Polska in 1984, all subsidiaries were owned by the main company, including ITT Film Studio, ITT Cinema and Chip Chilly. Following the fall of communism and founding of ITT Holdings S.A. Luxembourg, all subsidiaries of ITT Polska were put under holding companies owned directly by ITT Holdings for easier management.

### Shareholders

As of 2010, the shareholders of ITT include:

* ITT Holdings S.A. Luxembourg
	+ ITT Holdco N.V. (?%)
		- X (33.3%)
		- Y (33.3%)
		- Z (33.3%)
	+ Holding N.V. (?%)
		- X1
		- X2
		- X3
		- X4
		- X5
		- X6
		- X7
	+ Holding N.V. (?%)
		- Y
	+ Holding N.V. (?%)
		- Z
	+ BRH Bank (?%)
	+ ...

### Subsidiaries

As of 2010, ITT Group is organized into the following three segments:

#### ITT Food

* ITT Food Corporation N.V. (Curaçao) **d/b/a** **ITT Food**:
	+ Pan Piekarz Holding B.V.
		- Pan Piekarz – bread improvers;
	+ Chilly Stake B.V.
		- ITT Chip Chilly (50%) – snack food producer.

#### ITT Invest

* ITT Invest N.V. (Curaçao) **d/b/a** **ITT Invest**:
	+ ITT Invest B.V.
		- ITT Poland S.A. **d/b/a** **ITT Polska**:
		(original ITT company, currently holding of minor operations in Poland)
			* ITT Corporation – financial consulting agency,
			* ITT Bond Finance – financial services,
			* ITT Trading – investment fund and formerly a distributor of electronics,
			* ITT Gaming Entertainment Management – video game industry venture,
				+ Nexus S.A. **d/b/a** **PCP Investment**:
					- PC Projekt – video game publisher,
					- PC Projekt Heat – video game developer,
					- Nexus Technologie – computer hardware manufacturer;
			* Browar Sokół – beer brewing;
		- ITT News Investments S.àr.l (Luxembourg)
			* NTV News and Services Agency (minority ownership) – news subsidiary of NTV Grupa Temp;
	+ International Business Center Holding B.V.
		- International Business Centre – owner of International Business Center, the headquarters of ITT Group and NTV Grupa Temp;
	+ ITT Management A.G. (Switzerland) – managing international assets,
		- ITT Services Ltd. (Switzerland) – financial services,
		- ITT Corporation Ltd. (Guernsey) – financial services (closed in 2003),
		- Unisal International Ltd. (Ireland)
			* Unisal International Inc. – American home video distributor and formerly a video cassette importer operating in Poland, predecessor to the ITT Home Video division.

#### ITT Media

* ITT Media Group N.V. (Curaçao) **d/b/a** **ITT Media**:
(90% ITT Group, 10% European Media Enterprises)
	+ Supervision Holding B.V.
	(ITT Group's online, DTH and broadcasting arm)
		- ITT TV Holdings – formerly *PKT S.A.*, holding company of ITT's TV operations,
			* TV7 Group – defunct broadcaster of TV7 TV network, reincorporated in 2004 as NTV Grupa ITT,
			* NTV - 24 – former broadcaster of NTV TV network, merged with TV7 group into NTV Grupa ITT,
			* NTV Grupa Temp (51%) – formerly *NTV Grupa ITT*, broadcaster of the NTV TV network, operator of the NTV Box satellite TV platform, Net.pl web portal and Biblioteka NTV online streaming platform;
	+ ITT Entertainment B.V.
		- ITT Cinema Distribution Holding B.V.
			* UPI-ITT B.V.
				+ UPI-ITT – cinema distribution joint venture with United Pictures International;
			* ITT Polish Cinema Distribution Holding B.V.
				+ ITT Cinema – cinema movie distributor,
				+ Multimedia Reproduction Studio – multimedia duplication company;
		- ITT Film Studios Holding B.V.
			* ITT Film Studio – film studio, movie and music distributor,
				+ ITT Produkcja – production division,
				+ ITT Post produkcja – post-production division,
				+ ITT Home Video (a division of ITT Cinema until 2003) – home video division;
		- ITT Impressario Holding B.V.
			* Impresariat ITT – record label and artistic agency,
				+ Impresariat ITT Sport – organizer of sports events,
				+ NeoNagrania – hip-hop and rap record label;
	+ ITT Multiplex B.V.
		- ITT Multipleks – Multipleks cinema operations;
	+ Media Link Advertising Agency Holding B.V.
		- Media Link – advertising agency.

### Related companies

* ? Capital Investments – joint venture between X, Y and Z, a sister company to ITT Group, which owned shares in ITT Group's TV companies;
* Holding N.V. – one of the shareholders of ITT, owned by the X family after the death of ? X, also owns:
	+ X Architects – construction and development company operating in Ireland,
	+ X Investments – investment company.

### Operations

As of 2010, ITT Group operates in several markets and industries:

* television broadcasting through NTV Grupa Temp
* production of television programs through ITT Neowizja (formerly) and ?–Neowizja
* post-production, production of commercials, television series, cinematic and TV feature films and movies through ITT Film Studio
* production of movie and video recordings through ITT Film Studio and ITT Cinema
* reproduction of recorded information carriers through ITT Film Studio and Multimedia Reproduction Studio
* television advertising market through Media Link and Biuro reklamy NTV Media
* financial, business and management consulting through ITT Corporation
* film screening through Multipleks
* video game development through PCP Investment and PC Projekt Heat
* wholesale and retail of computers through Nexus Technologie
* online services through Grupa Net and TenHit
* book publishing through Wydawnictwo Helisa
* production of foodstuffs through ITT Chip Chilly and Pan Piekarz
* beer brewing and distribution through Browar Sokół