Recoletos sells stake in El Mundo…

Spanish publisher Recoletos sold its 30% stake in Unidad Editorial (publisher of the Madrid based daily El Mundo) to the Italian group Rizzoli Corriere della Sera for 80 million euros. Rizzoli also bought a 5% stake in Unidad Editorial from the company's founders for 13.3 million euros. Together, these transactions enabled Rizzoli to raise its stake in Unidad Editorial to 89%, strengthening Rizzoli's position in the Spanish print media market. Jaime Castellanos, CEO of Recoletos, noted that a minority stake in Unidad Editorial was no longer of strategic interest for Recoletos. Recoletos is majority owned by Pearson, the British finance and education publisher.

...and makes personnel changes in Spain...

Recoletos named Miguel Angel Belloso as the new coordinator of International Developments. Previously, Belloso was editor in chief of the Spanish financial daily Expansion (owned by Recoletos). Jesus Martinez replaced Belloso as editor. Recoletos, a publicly traded company, also owns the Portuguese publisher SGPS, the Argentinean publisher Sadei (publisher of El Cronista Comercial) and the Chilean company Ediciones Financieras.

...and Latin-America...

The Madrid based publisher also made high-level changes in its Argentinean and Portuguese companies. Marti Saballs was named director of content for Sadei and Mind Opener, the Argentinean companies which publish El Cronista Comercial in Buenos Aires, as well as the specialty magazines Apertura and Information Technology which were acquired by Recoletos in October 2000. Thirty-five year old Saballs will replace current content director, Gracía Cardador. Cardador, as well as Maite González and Cristina Ayuso, will return to Recoletos' headquarters in Madrid. Saballs previously worked as director in Recoletos' international department, as well as chief redactor for the financial magazine Actualidad Económica and New York correspondent for Actualidad Económica and Expansión. Cayetano Ramos, 32, was named general director of Económica S.G.P.S, Portuguese publisher of the financial daily Diario Económico, the weekly Semanario Económico and the monthly Fortunas & Negocios.


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