Spanish mogul to grab 80% stake in company

Spanish steel industry entrepreneur Alfonso Gallardo is set to buy 80% of Spanish publishing and media conglom the Zeta Group for a reported $800 million.

Zeta’s owner, Antonio Asensio Mosbah aims to retain the remaining 20% stake; a film buff in his mid-20s, he intends to invest a significant portion of the proceeds from Zeta’s sale in his film, TV and new-media interests. Asensio Mosbah declined to comment on the sale price.

Zeta owns daily newspaper El Periodico de Catalunya and erotic news magazine Interviu. It also has a burgeoning film and TV division, which will remain separate from the Gallardo purchase.

In 2004, Asensio Mosbah launched On Pictures, a mainstream film distributor and producer.

Zeta has an increasing presence in the flourishing Spanish TV production sector via entertainment TV producer ON TV and primetime drama shingle FicciON TV.

Last year, Asensio Mosbah took a stake in Internet company MyStrands, which specializes in recommending music, books and movies.

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