Telefónica wants to buy Prisa’s 56% of Canal+ and has offered €600-€700 million, but the editorial group wants substantially more and has decided to pressure the telco by opening the process to other bidders, namely Al Jazeera, News Corporation, Liberty Global and Vivendi.
According to El Economista, the bid’s first period concluded on Friday, but Prisa didn’t get any satisfactory offer. Only Telefónica is close to offering what Prisa wants, as News Corporation has offered €200 million for the pay-TV platform. Al Jazeera and Vivendi’s offers remain under wraps and Liberty Global has recently shown interest in buying ONO, which may drive it to lose interest in Canal+.
Prisa is struggling under a huge debt, although it has managed to refinance the most immediate instalments. According to the newspaper, around €900 million needs to be paid in 2015, which is why the company will be looking forward to selling Canal+ for such an amount. It will get enough cashflow to pay the debt while abandoning the TV business, one of Prisa’s main objectives for the coming years.
The media group has been trying to sell Canal+ for a long time and is said not to be in a hurry to close the deal, prioritising profitability over rapidity. The plight of the pay-TV platform is not helping to solve the situation, as Canal+ keeps dropping subscriptions and has to face the increasing prices of broadcasting football rights.
source : rapidtvnews.com/index.php/2014020132094/prisa-wants-telefonica-to-increase-bid-for-canal.html
Top 10 Most Viewed Posts In The Last 7 Days
- ITV Changes 20th October…Some SD channels closing, more HD channels.
- Humax Freesat Remote Control not working
- ITV1 – SD and HD swap for Sky and Freesat channel 103
- Using a Sky HD box and recently lost signal for your ITV1 on channel 103?
- How to add C4HD to your Humax Freesat box
- ITV HD satellite changes
- IPTV Buffering and Freezing – try these tips
- New Arris Freesat 4K box officially released
- Lost Sky News and Pick? They have changed frequencies!
- BeIN Sports (Mena) Receiver Updates Not Working – this solution worked for me!