Grupo Prisa Looks to Grow in U.S. Hispanic and Latin American Markets
The Financial Times reports Liberty Acquisitions, a New York City special purpose acquisitions firm led by Martin Franklin and Nicolas Berggruen. To raise additional funds, a share sale of the Brazilian unit of the Santillana text book publishing unit has been analyzed. Juan Luis Cebrián, chief executive of Prisa, says the share sale could be launched “sooner rather than later”, although the company has not yet named advisers. that Spain’s media conglomerate Grupo Prisa will receive $900 million from
With some pressure off Prisa’s balance sheet, Mr. Cebrián seems likely to spend more time looking at opportunities outside Spain, including the Hispanic market in the US and Latin America. .A diverse US Hispanic population is unified only by the Spanish language, he argues, “but the problem is the quality of the product [Spanish programming] has been very low”, Cebrian adds. . Prisa is a majority investor in U.S. Hispanic broadcaster V-Me as well as in Union Radio, which has extensive radio properties in both the U.S. Hispanic and Latin American markets. America’s growing bilingual population has also prompted Santillana to start work on forming a unit specializing in bilingual education, Mr. Cebrián says, which he intends to deploy in the Americas.
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