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PRISA sells Media Capital to Altice 440 million euros

14-07-2017

Media Capital
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PRISA’s Board of Directors has agreed to accept the offer presented by Altice NV for PRISA’s entire stake in Grupo Media Capital for a total value of 440 million euros. The final value of the transaction is subject to customary adjustments for such operations, but could be around 321 million euros.


This transaction will result in an accounting loss to Prisa’s consolidated accounts of approximately 69 million euros and of approximately 81 million to the individual accounts, according to company estimates.

Portugal's leading TV broadcaster

PRISA first took a stake in Media Capital in 2005, when it bought 33% of the group, with this percentage rising to 94% in 2007. Two years later, Ongoing Strategy Investments was incorporated as a partner of the Portuguese group.

Media Capital was established in 1989 with the launch of the newspaper O Independente. Portugal’s leading media group grew and developed in the 1990s to become a powerful media holding with top brands in television, radio, audiovisual production and the Internet.

In television, its flagship is the TVI network, audience leader both round the clock and in prime time, with daily average shares of 22% and 26%, respectively. It encompasses 6 channels (TVI, the general-interest channel, and pay TV channels TVI24, TVI Ficção, TVI Reality, TVI Internacional and Africa TVI) and broadcasts in 16 countries on nearly 40 platforms.

In radio, Media Capital operates one of the country’s most prestigious groups: Media Capital Radio (MCR), which includes the audience leader Radio Comercial, M80, Cidade, SmoothFM, VodafoneFM, and the online radio website Cotonete.

The Group also includes the division Media Capital Digital, whose main asset, IOL, is Portugal’s second largest national portal, plus the digital platform TVI Player that allows free access to TVI channels anywhere in the world.

In the field of audiovisual production, Plural Entertainment is Portugal’s leading audiovisual producer (soaps, dramas and animation) with an annual capacity of more than 1,000 hours of content. Its productions break audience records in prime time, are now available in 36 countries worldwide, and have won Portugal its first ever Emmy.

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