Altice acquires Media Capital from Prisa for €440m
Altice, the international telecoms giant, has bought Spanish media company Prisa’s majority stake in Media Capital, the Portuguese television broadcasting and production group, in a deal worth €440 million ($504 million).
In a statement, Altice said it had “entered into a definitive agreement with Promotora de Informaciones, S.A (Prisa) to acquire Prisa’s 94.7% stake in Media Capita SGPS, SA (Media Capital)."
It continued: “The acquisition of Media Capital forms part of Altice’s global convergence strategy and follows its path in France, the United States and Israel. Altice is committed to continuing Media Capital’s open platform in the Portuguese market while ensuring its success in a rapidly evolving media and digital landscape with new challenges and opportunities.”
Altice’s expansion plans include: investing in digital expansion; developing new TV channels and formats; launching new innovative services; and accelerating investments into Portuguese content.
Altice has made significant moves into the Portuguese market as part of its sports push, including a €457.5-million ($484.5-million) deal for soccer club Porto’s media, sponsorship and advertising rights over 12 years.