el país


Prisa Group: Dismantling of Spain’s Top Media Giant Means End Of An Era

MADRID | By Julia Pastor | Prisa, the symbol of the transition from Franco’s dictatorship to democracy, was born in 1972 as a family-owned business but since the end of 2010, the major company’s owner is US hedge fund Liberty Acquisitions Holdings with a stake of 51%. Prisa has recently carried out a new capital increase and all signs suggest that it could start to disinvest some of its more precious assets with the aim of cutting its overwhelming debt to the minimum. Poor management decisions taken along the way? Many workers don’t hide their disappointment with the firm and say things will never be the same.


Spain’s best-selling newspaper El País to cut jobs

The financial City of Madrid welcomed El País’ redundancy plans to improve the balance sheet of the best-selling newspaper in Spain. Investor reports on Wednesday warned that the adjustment in personnel could affect a sizeable number of jobs, but it was necessary to confront the loss of 51pc of accumulated advertising income since 2007. In 2011, the drop in advertisement contracts was of -15pc. Analysts at ACF remarked that the company…