Altice has confirmed its acquiring Prisa’s 94.7 per cent stake in Media Capital.
The Portugese media group has interests in both TV and radio and owns the largest Portuguese content producer, Plural. In 2016 it reported revenues of €174.0 million and EBITDA of €41.5 million.
The Patrick Drahi company said the acquisition was taking the same path it had followed in France, the United States and Israel.
Michel Combes, CEO of Altice, said: “We are extremely excited about the acquisition of Media Capital. It is a unique opportunity to invest more capital in a market which has been our home for many years. We want to capture the many growth opportunities Media Capital offers not just in Portugal but also internationally based on an ambitious agenda focused on more digital, more content and more innovation. This strategy will bring benefits to all Portuguese media consumers while strengthening the Portuguese media landscape in the context of an increasingly global competition.”
Portugal is already home to Altice’s global technology hub, Altice Labs.
