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The Regulatory Entity of Social Communication (ERC) initiated an administrative offense against Prisa and Mário Ferreira, considering that there is sufficient evidence that there was a change of power in Media Capital without having given authorization to do so.
“Based on the documentary analysis carried out and the detailed and exhaustive project of deliberation of the CMVM, ERC decides to initiate the administrative process against Vertix / Prisa and Pluris / Mário Ferreira due to the existence of strong indications of the occurrence of a control change not authorized over the radio and television operators that operate under license that make up the Media Capital universe ”, states the decision published on the official ERC website.
In accordance with national legislation, the ERC must previously authorize the entity that will have control over radio and television operators. In the case of Media Capital, one license is involved in the television service and 29 licenses in the radio service.
However, in May, businessman Mário Ferreira acquired Prisa’s 30% stake in the owner of Media Capital, while the Spanish group remained in the majority, with a position of more than 64%. In the same month, a shareholders agreement was signed between the two parties, which, among other aspects, required prior consent for the respective additional sales of the stake in the company.
After May, there were several changes in the management of TVI, in addition to the replacement of the executive president of Media Capital, with the departure of Luís Cabral and the entry of Manuel Alves Monteiro (who is a director of one of Mário Ferreira’s companies) . . That is why ERC announced in July that it had opened an investigation to Media Capital to see if there had, in fact, been a change of ownership over a company with assigned licenses without the authority having authorized it. And already there he warned that there were possible consequences, not only of the counter-conviction process, such as the loss of the license or even possible criminal trials.
Therefore, ERC is based on the preliminary decision of the Securities Market Commission (CMVM), known last week, which considers that there is a concerted position between Prisa and Pluris, by Mário Ferreira. The authority commanded by Gabriela Figueiredo Dias concluded that, among other aspects, these competencies were manifested “in the (re) composition of its administrative body, in the redefinition of the company’s strategic plan and in making relevant decisions in the management of your business ”.
Although the CMVM’s decision is still preliminary (Mário Ferreira’s defense period is pending), ERC decided to open the administrative offense.
Fine of 375 thousand euros
According to the ERC decision of this Thursday, October 15, a counter-conviction process is at stake that, in the case of the Radio Law, points to fines between 10,000 and 100,000 euros, values that rise to the interval between 75 thousand and 375 thousand euros in the case of the Television Law.
It is not the only possibility when there is a domain change without authorization, since the license itself can be suspended for a period of one to ten days.
Offer can be canceled
In the deliberation, the regulatory body inscribes one more question: “the alteration of the domain without the necessary authorization from the ERC, provided for by law as an imperative, implies the nullity of the deal.” At stake is the acquisition of 10.5 million euros by Pluris, from Mário Ferreira, from the Spanish group Prisa.
The administrative offense begins when Prisa tries to sell the remaining 64% of Media Capital’s capital, having already closed numerous promises to purchase and sell (subject to various obstacles) with a varied group of entrepreneurs, among whom is Cristina. Ferreira, Pedro Abrunhosa and Tony Carreira.
The administrative infraction process will now follow its procedures, until you have a final decision.
The establishment of this process adds more uncertainty to what is already present in the structure of Media Capital, since it may be the target of two possible takeover bids (OPA). One, from Mário Ferreira, due to the CMVM’s conclusion of this conciliation of powers, another, from Cofina, which admitted the possibility of buying 100% of the company’s capital (although this operation is only carried out with a limited price).
(news updated at 21.51)
