Prisa controls Garafulic

Spain's Grupo Prisa gained control of the Bolivian newspapers La Razón, El Nuevo Día and Extra, and the television channel ATB (see page 8, Portadatm, No. 3 May/June 2003). It previously had co-owned this assets with the Bolivian multimedia group Garafulic. Last June, Prisa paid off Grupo Garafulic US $9 million loan to Spanish bank Banco Sabadell after Grupo Garafulic declined to repay the loan. Shares of Grupo Garafulic guaranteed the loan. As Prisa repaid the loan, a Spanish notary awarded the shares to Grupo Prisa and to the Spanish auditor Juan Luis Gutierrez Blanco. Prisa now owns 75% of the Bolivian newspapers and TV channel, and will start to exert more direct control over these media outlets.


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