Grupo Prisa: Cebrian new Leader, Inminent sale of Satelite TV Holdings to Vivendi Telefonica

Grupo Prisa, Spain´s largest media group that is present in 24 countries (including an 80% holding in GLR in the U.S. and many Latin American countries) held its 2008 stockholder meeting last Friday in Madrid.

One of the main issues facing Prisa is its heavy debt load of 5 billion euros ($6.5 billion). Juan Luis Cebrian, who was named President of Prisa’s Executive Committee, noted that despite the crisis Prisa’s Ebitda (Earnings before Interest Taxes Depreciation and Amortization) will grow by 20% to 934 million euros this year. He added that Prisa is in advanced conversations with a group led by French conglomerate Vivendi and Spain telco Telefonica to sell its satellite TV unit Digital+. Cebrian added that Prisa will concentrate on the production of audiovisual content. Pisa is also talking to potential investors including U.S. private equity houses KKR and Hicks, Muse and Partners.

In 2009, Prisa expects to reduce its operative expenses by 5%. Salaries of executives who earn more than 80.000 euros ($104,000) will be frozen. At the same time Prisa announced that it will try to maintain head count in the 24 countries it operates, despite the current economic circumstances and the need to cut costs.

Prisa’s vast holding include Spain’s largest paid daily El Pais and several TV and radio assets as well as educational book publishing group Santillana. Prisa is also a majority investor in Grupo Latino de Radio.


Trackback from your site.

Editorial Staff @portada_online

Portada Staff

MORE FROM PORTADA

The 5 Most Pressing Questions About Influencer Marketing Answered by Band of Insiders, Best Buy, Bimbo, and Pepsico

The 5 Most Pressing Questions About Influencer Marketing Answered by Band of Insiders, Best Buy, Bimbo, and Pepsico

During the seventh edition of the #PortadaMX summit, experts in Influencer Marketing took the stage to discuss best practices surrounding this elusive but undeniably effective tool to reach consumers. Vivian Baron, CEO and Creative Chairwoman at Band of Insiders, presented the panelists: Best Buy Mexico's E-commerce Subdirector José Camargo, Grupo Bimbo's Global Consumer Engagement Lead Giustina Trevisi, Band of Insiders' Influencer Marketing Manager Leonardo Vargas, and Pepsico/Drinkfinity's Director of Business Innovation & Marketing Yamile Elias.


Experts: Sears’ Future in Mexico Remains Bright, Implications for U.S. Hispanic Market

Experts: Sears’ Future in Mexico Remains Bright, Implications for U.S. Hispanic Market

Experts tell Portada the downfall of the storied retailer won’t affect the Sears franchise in Mexico where better merchandising and e-commerce under the management of Grupo Carso, owned by Mexican billionaire Carlos Slim, have built the franchise into a big hit with Mexican consumers. The implications for the U.S. Hispanic Market.