Prisa profits, revs drop off

Spain's second largest media group reports $66 mil for 2001

MADRID — Prisa, Spain’s second largest media group, is riding Spain’s recession well, reporting net profits of 76.7 million euros ($66 million) for 2001, just 17.2% down on a year earlier.

But hit by the country’s ad slump, Prisa saw ad revenues drop 16% at its flagship daily newspaper El Pais.

Earnings decline was held in check by a strong 25% rise in revenues to $336.5 million at its book publishing company Santillana, which specializes in educational texts.

Spanish pay TV leader Sogecable, in which Prisa holds a 21% stake, recorded net profits of $2.4 million.

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