Prisa gains Sogecable control
By Julian Clover
May 12, 2008 11.39 UK
Spanish media giant Prisa has taken its holding in Sogecable to over 95%. The company says it will now study potential joint operations and the merger of the two companies.
Included in the review will be potential asset sales ‘especially in the audiovisual and telecommunications sectors’, which local analysts see as code for a potential sell off of the Digital+ DTH platform leaving Prisa with the prize of national TV network Cuatro. Any sale is likely to be put on hold until the uncertainty surrounding football rights is resolved.
Prisa achieved its goal after Telefonica said Friday that it would sell its 16.8% Sogecable holding – a move that has cost Prisa €650 million.
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