Spain’s Prisa Receives Offers For Satellite TV Unit Digital Plus
Spainish media conglomerate Prisa has received a number of preliminary offers for its satellite TV business Digital Plus. According to the FT.com, “a person familiar with the process” put the bid range at between €2.8 billion and three billion euros. Among the bidders are Spanish telecoms giant Telefónica and Italian Mediaset’s Spanish unit Telecinco. France’s Vivendi (EPA: VIV), which once owned a stake in Sogecable, the Prisa unit that holds Digital Plus, was also a “likely” bidder, while UK satellite pay-TV operator BSkyB (NYSE: BSY) was also “considering” putting in an offer.
News Corp., which has a 39.1 percent stake in BSkyB, has been eyeing Digital Plus for a while now, as it builds up its pay-TV business in Europe. Aside from its British business, it also owns Sky Italia and has a 25 percent stake in German pay-TV firm Premiere, which recently saw Mark Williams, News Corp’s ex CFO for Europe and Asia step in as CEO. It was reported in July that News Corp (NYSE: NWS). was considering offering up to €2.5 billion (£1.99 billion) for the Spanish company, but that it might have to choose between it and Premiere, as it didn’t have the cash for both. Now, the FT reports the bid is likely to come from BSkyB, with its “strong cash flow”.
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Posted In: Media & Publishing, TV, Satellite, Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, News Corp., BSkyB, Vivendi, Countries, Europe, Spain