Mediapro transfers sports rights
Juan Fernandez Gonzalez
| 22 August 2014
Mediapro aims to present simpler and healthier accounts by creating a subsidiary company to manage its sports operations. The new unit, Futmedia, will manage the company's sports rights, mostly football rights, which have a value of €369 million.
According to El Economista, the group's general figures don't show great changes year-on-year, with €1,400 million for rights acquisitions in 2012 and €1,110 million in 2013. But while the entire cost was undertaken by Mediapro two years ago, the Catalan producer is now managing around €300 million, with the rest being shared through its various subsidiaries.
Aiming to "simplify the rights management and the group's operative structure," the company is said to have agreed to increase Futmedia's capital so that the sports rights unit could manage larger amounts of the budget.
Due to this move, but also thanks to successful deals like the one involving the World Cup rights, the Spanish group has recently been showing positive results. Dropping nearly €85 million in 2012, the production house showed €46 million profit by the end of last year, increasing its income by 3.94%.