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Thread: Antena 3 and La Sexta agree merger

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    Antena 3 and La Sexta agree merger

    Antena 3 and La Sexta agree merger
    December 15, 2011


    Spanish broadcasters Antena 3 and La Sexta have agreed to merge in a deal that will give Televisa a stake in Spanish production and distribution group Imagina

    Antena officially said it was in talks with La Sexta but that a deal was not certain. Later reports suggest that the merger has been agreed in principle but was awaiting board approval, which could come as soon as today.

    La Sexta shareholders will get 14% of the new entity under the terms of the deal assuming it meets certain targets. Televisa, the largest producer of Spanish language content in the world, confirmed that it agreed to swap its 40.8% stake in La Sexta for 14.5% of Imagina, which is already a shareholder in La Sexta. Its stake will increase Imagina’s stake in La Sexta to 92%.

    The deal comes one year after Mediaset-owned commercial broadcaster Telecinco acquired smaller rival Cuatro in December 2010 and marks the latest concentration of power in the Spanish broadcasting business.

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    Antena 3 and La Sexta to merge

    Antena 3 and La Sexta to merge

    10.19 Europe/London, December 16, 2011 By Robert Briel





    Mexican Grupo Televisa has given the green light to the integration of Spanish broadcasters Antena 3 and La Sexta.
    The deal comes after years of speculation of a possible merger of the two channels.
    The merger involves no cash payments, just a new distribution of shares. Televisa will trade its 40.8% share in La Sexta for an increase of 14.5% in its stake in Imagina Media Audiovisua, the main shareholder of Antena 3.
    Imagaina will now see its share in Antena 3 increase to 92% as a result of the transaction, which is subject to regulatory approval.
    The merger between Antena 3 and La Sexta is the second in a process of consolidation in the Spanish TV market. In December 2009 Telecinco and Cuatro merged.
    Earlier this week the Prisa Group announced it is withdrawing its Canal+ 2 channel from the DTT market.

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