Imagina to take controlling stake in Televisa

Iñaki Ferreras ©RapidTVNews | 17-10-2011

Mediapro and Globomedia holding firm Imagina is to take Televisa's controlling stake in Spanish national private broadcaster laSexta.

Imagina owns, through Mediapro and Globomedia, dozens of companies with interests in the sporting events management, cinema production, TV series, entertainment TV programs and audio-visual technical services. This agreement will also serve for the merger of laSexta and Antena3.

To date Televisa has managed the financial management of laSexta and according to the terms of the new agreement, Imagina, with its partners BBK, El Terrat and Bainet, will account for 93% of laSexta's capital and therefore manage the channel alone.

The Mexican television group will also be part of Spain's largest audio-visual group with annual incomes superior to €1 billion and an EBITDA of €120 million in 2010.

Even though Antena3's president José Manuel Lara recently declared this merger has "a lot of sense" he did concede that there are some obstacles on the way.