Mediaset España sells its 22% of DTS to Telefónica

The group will study a plan to repurchase its own shares in the future. This operation will allow Mediaset España to become a provider and producer of content for pay television.

On July 4, Mediaset España agreed to sell to Telefónica 22% of its share capital in Distribuidora de Televisión Digital (DTS) for a value of 295 million euros, in accordance with the full estimated value of the Prisa company, to which amount an additional 30 million euros are added as consideration for Mediaset España's voluntary renunciation of the preemptive acquisition right, which puts the agreement today at a total value of 325 million euros.

Furthermore, in the event that Telefónica were to acquire 56% of DTS owned by Prisa, Mediaset España will receive an additional 10 million euros and up to a maximum amount of 30 million euros depending on the net additions of pay television customers that occur, during the following four years, in DTS and Movistar TV.

This operation opens the door for Mediaset España to become a provider and producer of content in the pay television market in our country. A “best efforts” agreement is now signed with Telefónica in this regard.

The Board of Directors of Mediaset España has also agreed to begin the analysis of different alternatives aimed at the repurchase of own shares, with the objective, in the medium term, of returning to shareholders the amount that was collected from the market at the time for the acquisition of 22% of DTS.

With the sale of its stake in DTS, Mediaset España completes the evaluation of any project for the integration of pay television activities into a single company with Mediaset Italia.