Luís Cabral is appointed new CEO of Media Capital

CHANGES AFFECTING THE BOARD OF MEDIA CAPITAL.

Luís Cabral takes over from Rosa Cullell as CEO.

• Luís Cabral has developed much of his professional career within the group.
• He replaces Rosa Cullell, who’d held the post since 2011, thereby culminating the process of succession undertaken in recent months.          
• Manuel Mirat takes on the position of Chairman of the Board of Directors of the company.
• Media Capital closed the first quarter with an increase in revenues from advertising and a significant decrease in net debt.

The Board of Directors of Media Capital, a PRISA company, approved this Friday the appointment of Luis Cabral as CEO of the group. Till now the CEO of Media Capital Rádios, Cabral replaces Rosa Cullell, who’d held the post since 2011.

Luís Cabral (Lisbon, 1961) has a degree in Marketing and Advertising from the INP. He joined Media Capital in 1989 and had served as the CEO of Media Capital Rádios since 2009. "I accept this leadership role with a huge sense of responsibility. I accept the challenge with the firm conviction that we have all the necessary tools to successfully take on the tasks that lie ahead of us,” said Cabral.

The appointment of Cabral demonstrates Media Capital’s commitment to promoting internal talent. The changeover had been carefully planned in recent months and is part of the transformation that television and digital content are currently undergoing.   

"I’m grateful for the trust placed in me by Grupo PRISA, with whom I’ll continue to have links, and especially for the commitment and friendship of the entire Media Capital team that accompanied me on this journey,” said Rosa Cullell. “Thanks to its financial strength, creative talent and total independence with regard to news, I’m convinced that Media Capital Group will be a leading player in the transformation of the Portuguese audiovisual market.”

Media Capital performed solidly in the second quarter of 2019 which, coupled with cost control, translates into an EBITDA margin of close to 30%, in line with previous years. The company continues to see very positive cash flow that has allowed it to reduce net debt substantially (barely 80.9 million euros) and has enable it to set the gold standard among publicly listed Portuguese media groups.

"We’d like to thank Rosa Cullell for all these years of hard work and dedication to Media Capital, which resulted in a long period of leadership and which put the company on a solid and sustainable financial footing. The company is now ready to face the present and future challenges under the leadership of Luís Cabral, who has been with us for several years and in whom we have the greatest confidence,” said Manuel Mirat, CEO of PRISA. 

Additionally, Pedro García Guillén and Xavier Pujol Tobeña have been appointed as members of the board of directors of Media Capital, following the resignations of Miguel Pais do Amaral and António Pires de Lima. Manuel Mirat has taken on the position of Chairman of the Board of Directors of Media Capital.