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New name for Grupo Correo-Prensa Española

New name for Grupo Correo-Prensa Española


Spanish media group Grupo Correo-Prensa Española has changed its name to Vocento, as a result of a merger which started in 2001 with the acquisition of Prensa Española (publisher of the daily ABC) by Grupo Correo (owner of a regional newspaper chain and other holdings in TV, radio and print media distribution). The company claims that the new brand and the new corporate image emphasize the group's international orientation and its leadership position in the Spanish media market. Vocento owns more than 100 companies and 80 brands, and employs more than 3,000 professionals. In Argentina, Vocento has a stake in regional newspapers La Voz del Interior (Córdoba) and Los Andes (Mendoza). In 2002, Vocento had earnings of 64.8 million euros (US $76.5 million), an increase of 93.7% compared to the prior year. Its revenues were 625 million euros (US $738 million), 48% were advertising revenues, an increase of 50.6% from 2001. Despite weak national advertising in newspapers, the company was able to substantially increase its revenues through acquisitions and higher revenues from regional newspaper, TV and radio advertising.

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