Barely has the ink dried on Prisa’s acquisition of Sogecable than the Spanish media giant is making plans to sell off the Digital+ pay-TV unit. elConfidencial is reporting Prisa has begun negotiations with the 68 year-old Mexican media magnate Carlos Slim. Prisa CEO Juan Luis Cebrián, former Spanish Prime Minister and Slim advisor Felipe González are preparing to fly to Mexico for face to face talks.
Slim is not familiar with the Spanish TV market, but could be tempted by a stake of up to 20% in Prisa itself. In return he will also receive the Digital+ pay-TV platform, the Canal+ premium channels and Sogecable’s advertising business. This would leave Prisa with the Cuatro national TV network.
Prisa has a €650 million gap to fill following the unexpected decision of Telefonica to pull out of Sogecable, taking advantage of the terms offered by Prisa in its takeover bid.
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