Mediapro Takes Controlling Stake in Overon

The move is part of the Spanish production house's international expansion, giving it video and data transmission abilities in America and Europe.

MADRID – Albertis Telecom announced Wednesday that it has sold control of audiovisual services and transmission group Overon to media giant Imagina Group, parent company to Mediapro, which already owned 49 percent of Overon.

“Once authorized by the exchange authorities, the operation took place via an initial sale of 26 percent of Overon’s capital for a price of €24 million ($33 million),” the company said in a statement.

Overon boasts signal transmission gateways in Madrid and Miami, one of the largest high-performance digital service news gathering (DSNG) networks in Europe, and access to a wide terrestrial network, with connections to the main operators in the sector.

The deal allows for an option for Imagina to buy the remaining 25 percent, as outlined in an initial statement earlier this year whereby Albertis said it would sell its entire stake to Mediapro for a maximum of €41 million ($56 million).