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Grupo Audiovisual Mediaset España Comunicación, S.A.U.(formerlyGestevisión Telecinco, S.A.andMediaset España Comunicación, S.A.) is a Spanish media company, controlled by the Italian-based companyMFE - MediaForEurope N.V.,which is majority-owned by Berlusconi family'sFininvest Group.Its divisions include the generalist free-to-air TV channelsTelecincoandCuatro,thematic channels and a film production subsidiary,Telecinco Cinema.
 | |
 Headquarters inMadrid | |
| Formerly | Gestevisión Telecinco, S.A. (1989–2011) Mediaset España Comunicación, S.A. (2011–2023) |
|---|---|
| Company type | Subsidiary |
| Industry | Media |
| Founded | 10 March 1989 |
| Headquarters | , |
Area served | Spain |
Key people |
|
| Products | Televisionandonline content |
| Revenue |  €957.89 million(2015)[1] |
 €766.74 million(2015)[1] | |
| €205.18 million(2015)[1] | |
| Total assets | €1.386 billion(2015)[1] |
| Total equity | €1.069 billion(2015)[1] |
| Owner | Fininvest |
Number of employees | 1,266(2015)[1] |
| Parent | MFE - MediaForEurope |
| Subsidiaries | |
| Website | www |
Created in 1989 asGestevisión Telecinco,it was then granted one of the first licenses for private free-to-air analogic terrestrial TV broadcasting in Spain. In 2009, already in theTDT transition era,Gestevisión agreed withPRISA'sSogecuatroto merge their businesses (most notably their flagship channels Telecinco and Cuatro), withGestevisión absorbing Sogecuatroin exchange of a minor participation of PRISA as shareholder of Gestevisión. In 2011, the media conglomerate was renamed toMediaset España Comunicación[2]PRISA eventually sold its remaining shares in 2015.[3]
History
edit1989–1993: The early years
editGestevisión Telecinco was established on 10 March 1989, to participate in thegovernmentauction of broadcasting licenses announced byFelipe González's government following theLey de Televisión Privada(Law of Commercial Television). Its first president was Germán Sánchez Ruipérez and, with a capital of 250 million pesetas, its shareholding was distributed as follows:
- Fininvest,presided bySilvio Berlusconi(25%);
- Divercisa, belonging to theOrganización Nacional de Ciegos de España (ONCE),presided by Miguel Durán (25%);
- Sociedad Europea de Comunicación e Información (CECISA), belonging to Ediciones Anaya, presided by Germán Sánchez Ruipérez (25%);
- Juan Fernández Montreal, owner of Chocolates Trapa (15%);
- Promociones Calle Mayor, of the property developer Ángel Medrano Cuesta (10%).
On 25 August 1989 Gestevisión Telecinco, along withAntena 3 TelevisiónandPRISA TV,were issued a 10-year broadcasting license to operate a national,free-to-air,commercial television channel. On 3 March 1990Tele5(as it was known then) began its initial broadcast.
In 1997Silvio Berlusconi'sMediaset Groupacquired the majority of shares in Telecinco.[4]
The main director of Atlas, Chema Baptist, added maximum responsibility of Telecinco's internet area and new business multiplatform to his duties. This decision was part of the company's policy of harnessing content creation and management in new technologies, and it took place immediately after the repurchase of 50% of his internet branch was finalised by Orange in 2001.
In 1998, after the arrival ofPaolo Vasileas Chief executive officer, Telecinco became more prominent in Spain. On 10 March 2000, the Spanish government renewed the concession for a further 10 years.
In 2003, Mediaset Group increased its stake in Telecinco and became the major shareholder with 50.1% of the shares. Gestevisión Telecinco was listed on the stock exchange on 24 June 2004.[5]
In 2008, Gestevisión Telecinco entered theNorth Americanmarket with the acquisition of a 29.2% stake inCaribevision,anAmericanbroadcaster for the country's Spanish-speaking population.
2009–present: Telecinco-Cuatro merger
editOn 18 December 2009,Mediaset,the controlling shareholder of Gestevisión Telecinco, andPRISA,parent company ofSogecable,presented an agreement to merge their television operations (Telecinco andCuatro). Following this merger,Cuatrowould be purchased in full by Telecinco. As part of the deal,PRISAwould buy newly issued shares of Gestevisión Telecinco, giving it an 18% stake in the company.
This agreement made Gestevisión Telecinco the largest television network in Spain by audience share. In total the group would operate eight free-to-air channels:Telecinco,Cuatro,LaSiete,FactoríaDeFicción,LaNueve,CNN+andCincoShop.
The board of directors of the enlarged Gestevisión Telecinco (which would keep the brands and editorial structure of both Telecinco and Cuatro) has Alejandro Echevarria as a chairman andJuan Luis Cebriánas a vicechairman, both non-executives; with two CEOs, Paolo Vasile (programming) and Giuseppe Tringali (advertising).PRISAalso has two CEOs and nominates the vice-chairman of the operator.
As part of the agreement, Gestevisión Telecinco would take a 22% shareholding in theDigital+platform.[6][7]
The Comisión Nacional de la Competencia (the Spanish antitrust commission), with a resolution dated 28 October 2010, authorised the acquisition by Gestevision Telecinco S.A. of exclusive control of Sociedad General De Television Cuatro S.A.U. (Sogecuatro) through the purchase of 100% of its share capital, subordinate to certain conditions. Telecinco, having met the suspension conditions to which it was subjected, acquired a 22% stake in DTS Distribuidora de Televisión Digital SA (Digital+) and 100% of the share capital of Sogecuatro, which operated the free-to-air channel Cuatro.
On 11 March 2011, following the purchase ofCuatroand the creation of its newest channel,Divinity,the company informed theComisión Nacional del Mercado de Valoresto amend the corporate name of the company from Gestevision Telecinco toMediaset España Comunicación.
Mediaset España is a supporter of theHybrid Broadcast Broadband TV(HbbTV) initiative that is promoting and establishing an open European standard for hybrid set-top boxes for the reception of broadcast TV and broadband multimedia applications with a single user interface, and has run pilot HbbTV services.[8]
In 2022, after a bid for the 44% pool of shares it did not already hold,MFE — MediaForEurope(the former "Mediaset Group" ) completed the takeover of Mediaset España, ending up with roughly a 83% of shares of the company, with the following stated goal being the full merger of Spanish operations with the Milan-based company.[9]
In November 2022, Mediaset España disclosed a restructuring of its senior management, with the appointment of Alessandro Salem and Massimo Musolino as the company's new CEOs, respectively tasked with the areas of Advertising, and Management & Operations, as well as the delegation of certain executive powers in the area of External & Institutional Relations to chairmanBorja Prado.[10]
In late January 2023, MFE announced that it would go ahead with Mediaset España merger plan, and offered to pay €3.2687 per share in the Madrid-based broadcaster.[11][12]It also announced that it will give seven MFE class A shares per one Mediaset España share to investors who backed the merger.[11]On 14 March 2023, MFE offered to buy a 1.05% stake in Mediaset España held byVivendifor €10.7 million.[13]The following day, 15 March 2023, the shareholders of Mediaset España approved MFE's absorption plan in anextraordinary general meeting,but José Antonio del Barrio Colmanarejo accused the managers of "failing to defend the interests of shareholders in the face of what he saw as an undervaluation of the company".[14]
On 28 April 2023, it was reported that MFE's absorption of Mediaset España was expected to be completed on 3 May.[15]2 May 2023 was Mediaset España's last day of trading; the Spanish subsidiary's final stock price was €2.89 per share, before the company was delisted from Spanish stock exchanges on the following day, 3 May.[16]Mediaset España's shareholders were offered seven newly issued class A shares of MFE per one Mediaset España share. In total, 220,934,896 new class A shares were issued, with a nominal value of €0.06 each.[17]
Ownership
editAs of May 2023, Mediaset España is fully owned byMFE - MediaForEurope.[18]
Group responsibilities
edit- Grupo Editorial Tele 5, S.A.U. (Spain)
- Agencia de Televisión Latino-Americana de Servicios y Noticias España, S.A.U. (Spain)
- Telecinco Cinema, S.A.U.(Spain)
- Publiespaña,S.A.U. (Spain)
- Cinematext Media, S.A. (Spain)
- Conecta 5 Telecinco, S.A.U. (Spain)
- Mediacinco Cartera, S.L. (Spain)
- Canal Factoría de Ficción, S.A.U. (Spain)
- Atlas Media, S.A.U. (Spain) — News agency responsible for providing news content for Telecinco's daily news bulletins.
- Agencia de Televisión Latino-Americana de Servicios y Noticias País Vasco, S.A.U. (Spain)
- MiCartera Media, S.A.U. (Spain)
- Publimedia Gestión, S.A.U. (Spain)
- Advanced Media, S.A.U. (Spain)
- Cinematext Media Italia, S.R.L. (Italy)
- Telecinco Factoría de Producción, S.L.U. (Spain)
- Sociedad General de Televisión Cuatro, S.A.(Spain) — Defunct subsidiary responsible for operating Cuatro.
- Compañía Independiente de Noticias de Televisión, S.A. (Spain) — News agency responsible for providing content for the now defunctCNN+news channel.
- Sogecable Media, S.L. (Spain)
Channels
editCurrent
edit- Domestic
Former
edit- International
References
edit- ^abcdef"XMCE:TL5 Annual Report Filling".quote.morningstar.Retrieved15 April2018.
- ^"Gestevisión Telecinco pasa a ser Mediaset España Comunicación".prnoticias.13 April 2011.
- ^Forcada, D. (21 April 2015)."Prisa pujará por un nuevo canal tras sacar 550 millones por la venta de Cuatro".El Confidencial.
- ^"History of Mediaset SpA – FundingUniverse".fundinguniverse.Retrieved15 April2018.
- ^"Inversores - Mediaset"(PDF).Mediaset.Archived fromthe original(PDF)on 8 February 2007.Retrieved15 April2018.
- ^Telecinco y Cuatro se fusionan para liderar la televisión en EspañaEl País,18 de diciembre de 2009
- ^Telecinco y Cuatro fusionarán sus operacionesArchived2011-09-27 at theWayback MachineTelecinco,18 de diciembre de 2009
- ^David Del Valle.Spain selects HbbTV standard.Advanced Television25 November 2011. Retrieved 27 March 2012
- ^Vivarelli, Nick (8 July 2022)."Berlusconi's MFE-Mediaset Completes Spanish Takeover in First Step of Pan-European Plan".Variety.
- ^"Mediaset nombra nuevos CEO a Alessandro Salem y Massimo Musolino en sustitución de Vasile".Cinco Días.10 November 2022 – viaEl País.
- ^abPollina, Elvira (31 January 2023). Jones, Gavin (ed.)."Berlusconi-backed MFE to incorporate Spanish TV unit".Reuters.Retrieved6 May2023.
- ^Thomson, Stuart (31 January 2023)."MFE to merge Mediaset Italian and Spanish operations".Digital TV Europe.Informa.Retrieved6 May2023.
- ^Mauricio, Joao Manuel (14 March 2023). Heavens, Louise (ed.)."MFE offers to buy 1.05% stake in Mediaset Espana [sic] from Vivendi ahead of delisting ".Reuters.Retrieved6 May2023.
- ^Thomson, Stuart (15 March 2023)."Mediaset España shareholders approve absorption into MFE".Digital TV Europe.Informa.Retrieved6 May2023.
- ^Thomson, Stuart (28 April 2023)."MediaForEurope to complete Spanish merger on May 3".Digital TV Europe.Informa.Retrieved6 May2023.
- ^"La bolsa española dice adiós a Mediaset España tras consumar su fusión con MFE".La Información(in European Spanish). Grupo Henneo. 3 May 2023.Retrieved6 May2023.
- ^"MFE emite nuevas acciones 'A' y las canjea por acciones de Mediaset España al entrar en vigor su fusión".Libre Mercado(in European Spanish). Libertad Digital. 4 May 2023.Retrieved6 May2023.
- ^"Capital social y accionariado".mediaset.es.30 June 2021.Retrieved20 October2021.
External links
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