Portuguese co. furthering private TV ownership plans
MADRID — Portuguese mini-major Lusomundo has acquired 25% of SIC, the country’s top-rated private broadcaster.
Lusomundo already dominates theatrical and video distribution in Portugal and has a joint venture with Warner Bros.’ Warner Lusomundo, to construct multiplexes in both Portugal and Spain.
Its entry into private TV ownership, through the acquisition of a 40% stake in Investec, is seen as an attempt to strengthen its position via Portugal’s media baron and former prime minister Francisco Pinto Balsemao, who control’s SIC and Expresso, the top Portuguese daily.
Lusomundo also has bought into other ventures, including the sports daily Record, the broadsheet 24 Horas and the weekly Tal & Qual.