PRISA sells 30.2% of Media Capital for 10.5 million euros to Pluris Investments

PRISA and Pluris have committed to seeking new investors in Media Capital in a coordinated manner, under a new business plan, which will facilitate the divestment of the Spanish group in Media Capital.

HURRY has sold the 30,22% of Media Capital a Pluris Investments, company of the Portuguese businessman Mario Ferreira. The operation has been carried out through a block transfer of the shares for a price of 10.5 million euros.

The operation means a significant reduction of the initial price that the publisher had negotiated in 2017, when Altice offered 440 million for the total purchase of Media Capital.

Furthermore, it represents a valuation of the company of approximately 130 million euros, ranking above market estimates, in a context in which average assets are suffering a strong impact from the COVID-19 crisis. FTA companies are trading at around 6/7 times EBITDA and taking into account the current circumstances of the industry and the evolution of the asset, the valuation achieved is very positive.

The sale of 30.22% of Media Capital is part of the asset divestment policy considered non-strategic undertaken by the Spanish group, which allows it to focus on strengthening Santillana and the digital transformation of its media in Spain and Latin America.

In parallel, PRISA and Pluris have committed to search in a coordinated manner for new investors in Media Capital, under a new business plan, which will facilitate the divestment of the Spanish group in Media Capital.

PRISA considers Pluris to be an ideal investor for Media Capital, given its commitment to supporting and helping Media Capital's management team with its experience in Portugal; his track record as a responsible, growth-oriented investor; and your commitment and ability to provide financial resources, if necessary, to the company.

Media Capital is the owner of the TVI channel, radio channels Rádio Comercial, Cidade, M80 Radio, Vodafone FM, Smooth FM, and publications such as Lux Magazine, Maxmen, Portuga Diário or MaisFutebol.