Ono files proposal for joint venture with Media Park
MADRID — Spanish cable operator Ono, production and services company Mediapro and European financial services group Skandia are bidding for the assets of niche-channel packager Media Park.
Media Park’s majority shareholder is Spanish utility company Iberdrola, which wants to concentrate on its core business.
Ono wants a slice of Barcelona-based Media Park’s channel production and has filed a proposal to create a 51%-49% joint venture with Media Park. The entity would take over the management, production and sales of the seven channels handled by Media Park in Spain, including an MGM niche service.
Ono values its offer at around E5 million ($6.7 million).
Mediapro, which has already bought Media Park’s production installations in Madrid, co-owns post-production companies in Spain and Portugal and is a shareholder in Barcelona high-tech studio Imagina. It’s well positioned to expand its powerful presence in studio facilities and post-production in Spain.
Skandia made an offer for undisclosed Media Park assets at a shareholders meeting Wednesday.
The assets sale could be approved at a Media Park shareholders meeting next month.