RCS buys Spanish DTT operator VEO
By Julian Clover
February 11, 2007 13.16 UK
Italy’s RCS Media Group is close to taking control of the Spanish digital operator VEO TV after agreeing to purchase Recoletos, publisher of the daily business newspaper Expansión, in a €828 million deal. Currently RCS and Recoletos each hold a 27.7% share in the fledgling operator, which has 80% coverage of the country, and runs the financial channel Expansión Directo and a joint venture with Sony Entertainment Television though a multiplex operated by the transmission company Retevision.
Recoletos was previously owned by Pearson, publisher of the Financial Times, which sold its 79% holding to a management team two years ago.
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