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.)