Spanish group Prisa posts profit

Revenues rise 114% in previous period

MADRID — Profits at top Spanish media group Prisa were Pta 13.6 billion ($72 million) — up 16% — for the first nine months of the year.

Revenues for the period ended Sept. 30 rose 114% to $745 million, partly due to the incorporation of the Santillana publishing house into the group. Prisa’s daily newspaper El Pais also saw a healthy 25% hike in advertising sales.

Some of Prisa’s cash surplus is likely to be channeled into funding international expansion. This week Prisa said it will invest $10 million in three companies to be co-owned by Garafulic, Bolivia’s leading communications group, to expand their joint activities in TV, publishing and Internet.

Prisa is the managing shareholder of film and TV conglom Sogecable, a joint venture with Canal Plus in France. Both hold 21% stakes in Sogecable.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading