Prisa to Buy Stake in Radio Network
Spain’s largest media group, Grupo Prisa, has agreed to buy a 50% stake in a Mexican radio network from Grupo Televisa, the largest communications group in Latin America.
Prisa’s chairman, Jesus de Polanco, said the deal would put Prisa and Televisa in a stronger position to break into the lucrative Hispanic market in the United States.
“The U.S. is an extremely important market,” de Polanco told a news conference with Emilio Azcarraga Jean, chief executive officer of Televisa.
De Polanco said the Spanish group was paying $50 million for the stake in Sistema Radiopolis, while promising to invest a further $10 million in the network of 17 radio stations.
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