Portuguese publishing house Cofina has finalised its agreement to buy Media Capital from Spanish firm Prisa.
The Provincial Court of Madrid has ordered media group Prisa to pay Spanish broadcaster Mediapro a total of €51 million in damages in the latest ruling handed down in a long-running dispute over football content rights.
Spain’s Mediapro has claimed victory in what has been termed its “football war” with Prisa.
Morgan Stanley is now the second largest shareholder in Spain’s Prisa.
Troubled Spanish media giant Prisa has insisted that its efforts in cost control are continuing, despite pay-TV revenues failing to compensate for the higher cost of football rights.
Spain’s Prisa has run into serious financial difficulties and currently owes banks more than €3.2 billion.
Spain’s Prisa is considering filing for Chapter 11 bankruptcy protection in the US.
Prisa lost 28,350 satellite subscribers in the first quarter, ending March with a total of 1,691,281, due to the weak economy and domestic consumption.
Spain’s Prisa lost 50,785 DTH subscribers in the year to September 2012, due largely to the weak economic situation and an increase in VAT.
Spain’s Prisa ended the second quarter with 1.831million pay-TV subscribers on its Canal+ business, along with 100,209 from other operators and OTT.