Spanish multimedia giant Grupo Prisa plans to pump $10m into leading Bolivian media group Garafulic to develop new and existing TV, internet, print and radio ventures in Bolivia.
The move forms part of Prisa's expansion into the Spanish-speaking Latin American market. Among other interests, the group already owns publishing giant Santillana and has a majority stake in Muxxic Latina, a joint venture with Universal Music Group. For Garafulic, the investment provides needed capital to support and grow its varied media interests.
Together, Prisa and Garafulic will launch three new ventures:
The agreement was presented Monday in La Paz by Prisa president Jesus de Polanco and Raul Garafulic.