Telefónica secures Spanish pay-TV acquisition
Telefónica has had its bid for a 56% stake in Distribuidora de Televisión (DTS) accepted by its existing owner, media group Prisa.
The Spanish incumbent has offered a reported €725 million for the stake in DTS – owner of French pay-TV platform Canal+ – which has now been accepted by Prisa, and is pending approval from regulators.
Prisa will reportedly complete the negotiations of contracts with Telefónica within 30 days and, if approved, the deal will give Telefónica a controlling 78% stake in DTS.
An approved deal would place Telefónica as the major pay-TV operator in Spain, and follows the Spanish operator’s acquisition of rights to the Euro 2016 and world cup football qualifiers in Spain.
DTS subsidiary Canal+ also holds rights to national La Liga games of major clubs, according to local reports.