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Hesper Herald Daily News

PRISA Completes The Divestment In Media Capital

Hesper Editor by Hesper Editor
October 7, 2021
in Business, News
0
PRISA Completes The Divestment In Media Capital

PRISA has completed the sale process of 64.47% of his Tuesday thus ending its divestment in the Portuguese audiovisual group. This operation has been carried out through independent block transfers of the shares to various investors at a total price of 36.8 million euros, as reported by the company to the National Securities Market Commission (CNMV).

This implies an implicit valuation ( enterprise value ) of 150 million euros based on the financial position of Media Capital at the end of the second quarter of this year, and a premium of 63% compared to the price per share offered by the entity Cofina in its voluntary public offering on the shares of Media Capital published on August 12.

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This divestment in the audiovisual sector represents another step in the strategic roadmap set by PRISA, which consists of accelerating the digital transformation of the group, focused on ed-tech learning systems in Latin America and on subscription models in its businesses of Media.

PRISA became a shareholder of Media Capital in 2005 and reached 99.39% of its capital in 2007. During these years, the Media Capital group has become the largest group in the media sector in Portugal. 

Founded in 1992, Media Capital owns the TVI television network which, with its channels TVI, TVI 24, TVI Fiction, TVI Reality, TVI Africa and TVI Internacional, reaches more than 10 million viewers in the Portuguese-speaking world .

It also has Plural Entertainment, one of the largest audiovisual production companies on the Iberian Peninsula, as well as Media Capital Radios, the largest radio group in Portugal, with a 50% market share.

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