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Telefonica close to buying Prisa's Digital+ stake - report
2014-03-06 08:29:00| Telecompaper Headlines
(Telecompaper) Telefonica is close to finalising a deal to acquire Spanish media group Prisa's controlling 56 percent stake in pay-TV platform Digital+ for around EUR 800 million, reports Bloomberg, citing unnamed sources close to the matter. Although an agreement for the cash deal appears to be imminent, Prisa still needs to give final approval. Last week the Spanish media company said its 2013 net loss widened to EUR 648.7 million from EUR 255 million a year earlier. On 25 February Prisa had given fellow shareholders Telefonica and Italian broadcaster Mediaset, each of which own a 22 percent stake in Digital+, a 15-day term to decide whether to bid for Prisa's share. According to one of the sources, Telefonica has been weighing up its options, including the possibility of teaming up with Mediaset or with Al Jazeera to buy the asset. The acquisition of Digital+ would enable the operator to access Prisa's TV catalogue, including its rights to live Spanish football games, above all the highly lucrative Barcelona-Real Madrid 'classic'. In addition, it would enable Telefonica to reach areas of rural Spain not currently covered by its ADSL and fibre broadband network.
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Category:Telecommunications