Telefonica secures Prisa TV business

May 8, 2014 10.00 Europe/London By Julian Clover

Prisa TVPrisa has accepted an offer from Telefonica for its pay-TV business, Distribuidora de Television Digital (DTS), and generally referred to under the Canal+ brand.

As reported in Broadband TV News earlier this week, Telefónica has tabled a €725 million offer for 56% of the Spanish pay-TV operations.

The bid is somewhat less than the €1,000 million sought by the cash-strapped media concern.

Telefónica already holds 22% of Digital+ and with 78% of the company would be in effective control, sitting alongside junior partner Mediaset, which currently holds 22% of the company.

With Telefónica holding around 80% of the Spanish TV market the bid will no doubt be studied by the competition authorities.