Prisa buys into Televisa radio arm

Spain's media group nabs 50% of Radiopolis

MADRID — Spain’s biggest media company, the Prisa Group, has purchased 50% of the Radiopolis radio group, owned by Mexican media giant Televisa. Prisa paid Televisa $50 million and injected another $10 million into Radiopolis to increase its working capital.

Underscoring Prisa’s international ambitions in the Spanish-speaking world, the move coincides with the creation of Prisa’s first international media division. It will be directed by Jaime Polanco, former Prisa general manager, North America. Polanco will be based out of New York and Madrid.

The Televisa-Prisa radio alliance is a long-term strategic bet, aimed at allowing the companies’ radio interests to grow in Mexico and beyond. Radiopolis is the fifth-largest radio network in Mexico.

At a Madrid press conference Monday, Prisa prexy Jesus de Polanco stressed that the Televisa-Prisa deal was the first step in creating “a pan-Latin American (radio) group” also operating in the Hispanic U.S.

(Mary Sutter in Miami contributed to this report.)

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 News from Variety

Loading