TELEFONICA INCREASE THEIR MEDIA

Telefonica SA have increased their monopoly on their multimedia platform by acquiring 22% ownership of Spanish digital television platform Digital Plus from Promotora de Informaciones SA (PRISA), who sold the shares for a staggering 976 million euro in a bid to reduce the company´s debts.

PRISA, who also own the Spanish newspaper El País, are Spain's largest media company. They are keeping 56 % of Digital Plus, the remaining 22% already being owned by Gestevision Telecinco SA.

It is now thought that PRISA will be concentrating on making more strategic cuts within their business sector, to enable them to focus on their core business of information flow through television, print and radio.

The company have debts in the region of 4.7 billion euro, accumulated mostly through their move into the digital television format.