Spain's Antena 3 Changes Name to Atresmedia
MADRID -- Spanish media conglomerate Antena 3 Group announced Wednesday a corporate name change to Atresmedia, pooling television, radio, advertising, film production, branded content and live events under one banner.
Atresmedia Television, which clusters channels Antena 3, laSexta, Neox, Nova, Nitro, laSexta3, Todo Cine, Xplora and GolTV, will sport a different logo than the rest of the group.
Antena 3 merged with smaller channel laSexta last year after regulators approved conditions that placed the media group along the same lines as rival heavyweight Telecino, which had just merged with Cuatro.
The Antena 3-laSexta merger gives the new Atresmedia more than 25 percent of the audience share. The Antena 3 Group posted €31.9 million ($41.9 million) in 2012 profit, a 65.8 percent slide from 2011, with revenues dropping 8 percent to $972.8 million, thanks mostly to a plummeting ad market in Spain.
Share price varied little throughout the day, dipping from opening at $6.18 and closing at $6.16.