Spain’s Grupo Prisa, the owner of several radio and digital media properties in Latin America and the U.S. Hispanic market, just sold its majority stake in leading Spanish Pay-TV provider Canal+. The proceeds of the sale will be used to reduce Grupo Prisa’s debt.
Major Spanish media groups with presence in the United States and Latin America are going through tough times. A look at the P&L of Unidad Editorial, Grupo Prisa ,Grupo Planeta and Vocento. Plus, Prisa’s recently sold stake in V-Me was of 42%.
The “V” of Vme Media Inc. might very well now stand for “Venezuela,” as a group of high-profile Venezuelan investors are committing a “major investment”