Spain's Atresmedia Creates New Division

The move is part of a declared diversification strategy.

MADRID – Spanish television network Atresmedia has created a new division called Atresmedia Diversification headed by Javier Nuche, who will answer to CEO Silvio Gonzalez, the company announced Thursday.

The new division will group all activities that do not depend directly on advertising revenue, namely New Business through licensing education, merchandising and games; International Expansion; Music publishing through music rights; and, Project Incubator.

Nicolas Gruber, Mar Martinez Raposo, Jesus Moreno and Estela Baz will comprise the new departments’ team.

The move is the latest step in an ongoing diversification strategy Atresmedia expressed two years ago, designed to offer growth not through advertising revenue.

Atresmedia, which includes flagship network Antena 3, saw revenue rise 13.3 percent to $581 million in 2013, with 43.1 percent of Spain’s TV ad spend.