Report: Prisa close to pay-TV sale

March 6, 2014 10.41 Europe/London By Julian Clover

telefonica_campusSpanish media giant Prisa is on the verge of selling its pay-TV business to Telefonica. Bloomberg reported Thursday that Prisa would recoup around €800 million from the sale. However, it is not thought the sale is yet done and dusted with the possibility that Telefonica will face at least one rival bidder. Al Jazeera also being in the frame.

The sale of the Canal+-branded business will help Prisa reduce its substantial debt pile, while seeing a complete return to the TV business for Telefonica, which was once a partner in the Via Digital satellite operation. Canal+ Spain still uses both Astra and Hispasat satellites for its distribution.

For its part Telefonica announced Wednesday a new €75 TV package combining TV, fixed line and mobile services under the moniker Movistar Fusion TV.