China’s Orient Hontai will now control Spanish media company Mediapro after acquiring a 53.5 per cent stake in the company for around €900 million.
The Chinese private equity firm has acquired the stake from the shareholders: Torreal, another private equity company with a share of 23 per cent; the Mexican broadcaster Televisa with 19 per cent; and one of the firm’s founders Gerard Romy, with 12 per cent.
Chairman Jaume Roures will remain at the Medaiapro helm along with founding partner Tatxo Benet.
Mediapro is a football pay-TV giant in Spain with rights to La Liga, the Champions League and the Italy’s Serie A football league.
Mediapro made €1. 5 billion in revenues in 2016 and it has a presence in 20 countries with some 5,500 staff.