Prisa is set to agree a deal with Liberty Acquisition Holdings to sell a majority stake in its media business.

The Spanish media company, with debts of $6.4m, will benefit from a $900bn investment from Liberty in return for a 70% share in the business in a deal to be finalised next month.

Co-founder and chief executive Juan Luis Cebrian has said he will remain at Prisa for the next three years to oversee its progress into profit.

Prisa owns companies across TV, radio and print, including Spanish daily El Pais, which despite a 4% fall in sales, made a profit of $11m in the first nine months this year.


Portada Staff

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