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Antena 3, laSexta merger close
Iñaki Ferreras ©RapidTVNews | 17-12-2009
Spain's Groupo Planeta's Antena 3 is in final talks with Mediapro's laSexta over an immediate merger, according to reports. Grupo Planeta has reportedly closed a pre-agreement with Mediapro and Mexican media group Televisa (one of laSexta's main shareholders) for the integration of Antena 3 TV with laSexta in a big TV holding company.
If closed, the agreement would force Sogecable's free-to-air channel Cuatro to join forces with Telecinco for a merger.
Antena 3 TV's owners are being advised by business bank Morgan Stanley and are looking at control up to 80% of the new group's capital. But there is likely to be a shared management agreement.
The merger of the two private national TV channels would produce a TV group with eight TV channels, all of which would keep their brands and their independent programming. In total the channels have a share of 22.6%, of which 16% belongs to Antena's 3 channels and 6.6% to laSexta.
Antena 3 had revenues of €476 million in the first nine months of this year with a profit of €18 million while laSexta had €150 million in revenues during the last year with losses of €93 million.
Parallel to this negotiation, Sogecable's Prisa and Mediaset continue their talks to integrate Cuatro with Telecinco in a new TV holding company. These conversations also contemplate Mediaset taking a stake in Sogecable's satellite pay-TV operator Digital+ and editorial control of Cuatro.
During the first nine months this year Telecinco got €432 million in revenues with profits of €63 million compared with losses of €31 million for Cuatro on revenues of €167 million. The only handicap in these negotiations is Prisa does not want to give Mediaset advertising management and programming control.
Prisa is desperately seeking financial solutions to return the €1,950 million credit due next March. Also the company is contemplating the sale of between 20% and 25% of Digital+ to Mediaset to cut down on its debt.
If Cuatro and Telecinco do merge the operation will produce a broadcaster with 25.5% of the TV audience, 2.5 percentage points above a merged laSexta/Antena 3. But the Antena 3-laSexta merger means Grupo Planeta's channel will have access to only pay-DTT channel existing in Spain, Gol TV, which has 150,000 subscribers.
© Rapid TV News 2009
