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Laura Neira Marciales – [email protected]
Blas Herrero, owner of the Kiss FM radio chain, made an offer to buy Prisa, the group of which the newspaper ‘El País’ and Cadena Ser are part, according to the Spanish newspaper ‘Expansión’.
The businessman who also leads a group of Spanish investors, with whom they seek to launch the cash purchase proposal for radio and press assets with the advice of the financial services firm Société Générale.
In addition, it was known that the offer would be around US $ 177 million, this despite the fact that the operating profit of the media conglomerate is negative; the business has suffered a considerable contraction due to the pandemic, which has led them to lose about US $ 196 million in turnover, as well as US $ 141 million in Ebitda due to the drop in advertising.
This news is known after the sale of Prisa de Santillana, which was the education business in Spain, to the Finnish company Sanoma; likewise, the divestment in Portugal, where they decided to sell Media Capital two years after it tried to divest itself of its subsidiary with the transfer to the French group Altice. The Group is also advancing a refinancing agreement for the group’s debt with its creditors.
