Prisa to take over US channel V-me Media
June 15, 2010
From David Del Valle in Madrid
The Spanish media group that controls Digital Plus and Cuatro TV is investing E31.5 million to acquire a 51 per cent of the US Spanish-speaking US TV channel V-me Media.
Initially, Prisa will invest E3.3 million to control a 23 per cent stake; another investment of E8.2 will be made later on this year to reach 35 per cent and E19.8 million in 2011 to acquire 51 per cent.
Prisa will provide the TV channel with content “to speed up the development” of the channel in the Hispanic market of the States, according to the company.
This move comes at a time when the company is selling out its stakes in Portuguese Media Capital, and part of its stakes in the pay-TV business and integrating commercial TV channel Cuatro into Tele 5.