October 21, 2014 5:42 AM ET

Media

Company Overview of PRISA Televisión, S.A.U

Company Overview

PRISA Televisión, S.A.U provides pay television services in Spain. It offers satellite television, 3D broadcasting, and interactive services. The company also engages in the production of content and audiovisual programs for audiovisual genres, such as entertainment, drama, documentaries, and advertising; and is involved in the television broadcast of basketball, golf, tennis, rugby matches, athletics, and handball leagues, as well as acquires and manages audiovisual rights, marketing, subscription management, and advertising sales. In addition, it owns and operates a Spanish-language channel that provides films, series or music, and education and children’s content programs; and a Portugues...

Av. de los Artesanos 6

Tres Cantos,  28760

Spain

Founded in 1989

Phone:

34 91 736 70 00

Fax:

34 91 736 89 11

Key Executives for PRISA Televisión, S.A.U

Chief Executive Officer
Chairman
Age: 53
Chief Financial Officer and Member of Business Management Committee
Chief Operations Manager and Member of Business Management Committee
Chief Executive Officer of Mediacapital and Member of Business Management Committee
Compensation as of Fiscal Year 2014.

PRISA Televisión, S.A.U Key Developments

Update On Canal Plus Acquisition

Telefónica, S.A. (CATS:TEF) is reportedly nearing completion of a deal to acquire controlling interest in PRISA Televisión, S.A.U. for $1.1 billion, according to Bloomberg.

Canal Plus Sale Stalls

Promotora de Informaciones, S.A. (CATS:PRS) (Prisa) is finding it difficult to sell its 56% stake in PRISA Televisión, S.A.U (Canal Plus) for the expected €1 billion. None of the financial proposals have met its expectations and Prisa has decided to extend the initial January 31, 2014 deadline for binding offers to February 24, 2014. Several groups have expressed their interest in acquiring the stakes. The most likely candidate is Telefónica, S.A. (CATS:TEF), with a 22% stake in Canal Plus, whom Prisa is holding negotiations. The problem is that Telefonica would only be willing to pay between €500 million-€600 million for the majority of stakes. Other possible bidders are Societe d'Edition de Canal Plus S.A. (ENXTPA:AN), Rupert Murdoch, Liberty Global Ventures and Al Jazeera Finance, but none of them would offer €1 billion for Canal Plus as hoped for by Prisa. It is understood that Murdoch only offered €200 million for the stakes.

Prisa TV Workers Go on Strike

37 channels in Spain are to be affected by a one-week strike by Prisa TV workers. The strike could also affect sport broadcasts, the rights of which are exclusively owned by Prisa. Prisa TV's parent company recently announced that is going to take over the television subsidiary, and the employees are afraid that the new agreement will set the ground for future layoffs. The company proposal makes the outsourcing of some services easier. The company intends to reduce salaries due to the drop in profits during the first quarter of 2013, which was especially large for Canal+. However, the union argues that this isn't a good enough reason as Canal+ made a EUR 50 million profit in 2012. But the parent company is clearly losing money. During 2012, EUR 255 million losses were declared and Prisa announced a strong plan for saving money, which includes the efficient use and reduction of administration. The strike will be effective until June 1, 2013 and will affect channels including Canal+1, Canal+Liga, Canal+ Deporte, Sportmania and Caza y Pesca.

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