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Pretesa gets $10 mil investment boost

Local TV company no. 1 in Spain

MADRID — Spanish investor Fingalicia and regional radio company Agrupacion Radiofonica have taken 10% and 4% stakes respectively in Promotora de Emisoras de Television (Pretesa), the local TV subsid of Prisa, Spain’s biggest media company.

The two companies will subscribe a €10.2 million ($9.7 million) capital increase to Pretesa this September.

While advertising is stagnating at Spain’s nationwide broadcsasters, the local TV advertising market is regarded as a significant growth sector in Spain.

Launched in 2000 under the brand name Localia, Pretesa is Spain’s local TV leader, owning, operating or holding programming pacts with 63 local TV operators.

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