New life for Bolivian media
Spain's Grupo Prisa and Bolivia's Grupo Garafulic agreed to capitalize three holding companies they co-own in Bolivia. These holding companies promote print media, radio, television and Internet assets. Both groups will write off loans to these holding companies valued at US $1.8 million. Additionally, both companies will contribute US $0.5 million in cash. These transactions will not change the stakes held by Prisa and Garafulic.
Print media assets are included in the holding company Inversiones Grupo Multimedia de Comunicaciones S.A., in which Prisa has a 76.9% stake and Garafulic 23.1%. The main assets of this unit are La Razón, the renowned Bolivian newspaper published in La Paz; El Nuevo Día>
published in Santa Cruz, and Extra, the newspaper with the largest circulation in Bolivia. Inversiones Grupo Multimedia de Comunicaciones also owns specialized publications such as La Gaceta Jurídica and Vida Sana.
Prisa's main radio unit, Cadena Ser, will work to create three Bolivian national music radio stations. Prisa will continue to form alliances and make acquisitions in markets, such as the United States, where Spanish is the main or an important language.
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