Recoletos to divest media assets in Spain
Spain's Recoletos, 80% owner of Meximerica Media, publisher of the Rumbo newspaper network, is planning to spinoff some of its print media assets, including financial daily Expansion (circ. 40,000) which Pearson is looking into buying. According to some analysts, Recoletos might even sell Marca, currently the leading Spanish sports newspaper. Recoletos intends to concentrate its efforts on the daily tabloid Qué! and on television ventures. Grupo Godó, publisher of Barcelona based paper La Vanguardia, recently bought a 30 % stake in Que!. The free tabloid employs an editorial staff of 137 journalists and is given away at 7,500 distribution points in Madrid, Barcelona, Valencia, Alicante, Zaragoza, Palma de Mallorca, Bilbao, Oviedo, Gijón, La Coruña, Vigo, Sevilla and Málaga. Edward Schumacher-Matos, CEO and editorial director of the Rumbo-Meximerica Media papers, said recently that Recoletos is considering the sale of a minority stake in Rumbo-Meximerica Media.
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