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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