You will be redirected back to your article in seconds

Spain’s Imagina raises $450 million

Film-TV conglom eyes further international growth

MADRID — Seeking to diversify revenue streams as Spain’s crisis continues, Imagina Group, one of the biggest TV-film congloms in Spain, has raised a Euros355 million ($454 million) credit facility.

At least part of that looks set to power up its international expansion.

Made after a $31.7 million rights issue re-capitalizing Imagina, the loan matures in 2015.

The Royal Bank of Scotland and Citibank figure among 10 lenders backing the financial facility.

“The loan will allow the Imagina Group to invest in international expansion increasing its presence in markets with greater dynamism,” Imagina said in a press statement Friday.

Just how that expansion will be put through, and if all of the $454 million will be used for international growth, are, however, moot questions.

Controlled by Globomedia, Spain’s leading primetime drama producer, and Mediapro, a service, rights broking and production combo, Imagina leapt to international attention when Mediapro co-produced Woody Allen’s “Vicky Cristina Barcelona,” “You Will Meet a Tall Dark Stranger” and “Midnight in Paris.” Imagina International Sales, Spain’s top integrated film-TV sales operation, sold “Stranger” and “Midnight” worldwide.

Mexico’s Televisa also owns a 14.5% stake in Imagina.

Recently, Imagina has opened operations in Qatar, Paris, Miami, Rio de Janeiro, Sao Paulo, Quito, Lima, Buenos Aires, Shanghai, Hong Kong and Singapore.

The Imagina Group includes indie TV production company Promofilm, which targets the U.S. and Latin America, and Mediaworld, which brokers soccer rights to the U.S. Hispanic market.

“There are likely to be ample opportunities in terms of start-ups and acquisitions,” an analyst said.

“Assuming Imagina has not paid ridiculously high rates for the loan, it is positive for the group,” he added.

Emiliano de Pablos contributed to this report.

More TV

  • Daisy May Cooper Signs on for

    Daisy May Cooper Signs on for Baby Cow Comedy 'The Witchfinder' for BBC Two

    Daisy May Cooper, the star of hit BBC comedy “This Country,” is to play a suspected witch being escorted to trial in seventeenth century England in new BBC Two comedy series “The Witchfinder.” Cooper will star alongside actor and comedian Tim Key, who plays a failing witchfinder transporting her to a trial that could change [...]

  • Sky Original Anna

    Sky Sets Post-Apocalyptic Italian Original, 'Anna,' With Wildside Producing (EXCLUSIVE)

    Comcast-backed Sky is making a new Italian original titled “Anna,” centered on a 13-year-old Sicilian girl who must contend with a viral contagion that has killed off all adults on the island. The series, which has echoes of “The Walking Dead” and “Hunger Games,” is based on a book by the same title by author-turned-director [...]

  • The Good Cop

    ‘Fauda’ Producer Yes Studios Develops Comedy Series ‘Shared Spaces’ (EXCLUSIVE)

    Yes Studios, the Israeli production-distribution company behind such hits as “Fauda,” “Your Honor” and “On the Spectrum,” is developing “Shared Spaces,” a high-concept comedy series. “Shared Spaces” is currently in development with the writer-creator Erez Aviram on board. Aviram is the co-creator of the Israeli police comedy “The Good Cop” (pictured) which was adapted in [...]

  • AMERICAN HORROR STORY: 1984 -- Pictured:

    'American Horror Story' Recap: Who Survived to See the 'Red Dawn'?

    SPOILER ALERT: Do not read if you have not yet watched “Red Dawn,” the fifth episode of “American Horror Story: 1984.” After five episodes, “American Horror Story: 1984” is moving onto another day within the story. The sun finally came up in “Red Dawn,” but not every would-be counselor at Camp Redwood survived to see it. [...]

More From Our Brands

Access exclusive content