From David del Valle in Madrid
The Spanish media group Prisa, owner of the newspaper El PaÃs, is taking full control of the TV company Sogecable, owner of Digital Plus, Canal Plus and Cuatro, by acquiring the remainder 2.29 per ceny shares to reach 100 per cent for E75.5 million.
The move paves the way for the sale of Sogecable’s pay-TV division, Digital Plus, to tackle Prisa’s huge debt of E4.9 billion. The CEO of Prisa, Juan Luis Cebrian, is working on a new strategic plan that will include, he confirmed, “the eventual partial or total sale” of the pay-TV business. Digital Plus currently has 2.1 million subscribers and an EBITDA of E320 million