RCS grabs full control of Veo
EmptyMADRID -- Italian publishing conglomerate RCS Media Group has bought out a group of minority investors to claim a 44.6% stake in Spanish digital terrestrial TV operator Veo TV for some $138.1 million.
The move gives the Italian group full control of Veo. Its Spanish subsidiary, Unidad Editorial, already controls the 55.4% remaining stake.
"The acquisition of VEO Television, a digital terrestrial television concession holder in Spain, is part of the group's strategic development in satellite and digital television markets, aimed at further progressing its multimedia.
Veo TV is one of six national free-to-air commercial operators in Spain and holds one of two DTT licenses awarded in 2000.
Sony Pictures Television International programs Veo's second DTT channel.
Unidad Editorial publishes Spanish daily newspaper El Mundo and top financial daily Expansion as well as sports daily Marca and film and TV production house El Mundo TV.