Planeta exits Spain’s Tele 5

World Brief

Planeta Group has sold its 10% in high-flying Spanish free-to-air broadcaster Telecinco to Dutch-based investment fund Ice Finance BV.

The sale, but not the buyer, was expected. The biggest publishing company in the Spanish-speaking world, Planeta is the driving force behind Horizonte Digital, a consortium aiming to snag a digital free-to-air franchise to broadcast nationwide. Spanish TV legislation forbids a company from having substantial stakes in two free-to-air broadcasters.

Planeta bought 10% of Tele 5 in 1997. Mediaset owns 40%, and the Kirch Group 25% and Correo Group each have 25%.

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: Logo

You are commenting using your 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 TV News from Variety