Mediapro revenues in freefall
April 21, 2021
From David Del Valle in Madrid
Spanish TV group Mediapro saw its revenues fall by 38 per cent to €1.1 billion in 2020, with a negative EBITDA of €215 million versus €224 in the green the previous year.
The company, controlled by Chinese Fund Orient Hontai Capital, said that the suspension and stagnation of its activities due to the pandemic is the reason behind the losses.
Before the pandemic, Mediapro was producing 14 football competitions, two feature films and over 100 fiction and non fiction productions which had to put on hold because of the lockdown measures.
The company is now asking the Administration for a financial rescue of up to €300 million.