Portuguese newspaper publisher Cofina has bought Portuguese TV channel Media Capital from PRISA, its Spanish owner. The consideration was €225m plus €75m debt.
Media Capital was founded in 1992 and owns: TVI which operates a range of channels reaching 10m Portuguese speakers globally; MCR, Portugal’s major radio group; Media Capital Digital which has 390m visitors to online properties and 8m social media followers; and Plural Entertainment, a TV production company.
Cofina owns Correjo de Manha and business title Jornal de Negocios. The company is listed in Portugal with a market cap of €50m. The deal represents significant consolidation in the Portuguese media market, following a spate of similar deal across Europe, and still requires regulatory approval.
