Telefonica Media, part of Spanish telecoms giant Telefonica, is to slim down the assets it owns and focus on a simpler array of businesses in Europe and Latin America. It will also change name to Admira.
At a rare press conference, Telefonica Media executive president Juan Jose Nieto confirmed reports that the company plans to sell off its stakes in the UK's Pearson and Argentina's Azul TV, albeit "when market conditions are more amenable." But he denied suggestions that a stock flotation was imminent for Admira. Nieto said that Admira will study possible joint ventures with Pearson in educational media and other alliances in Latin America, where through its Endemol Entertainment division it recently launched a joint production venture with Brazil's TV Globo.
While sources at Admira denied local reports that the company is considering taking a stake in Spanish digital terrestrial television platform Quiero, Nieto said that Admira was "studying" the possibility of becoming Quiero's principal content provider. Admira rival Sogecable is understood to be studying the same possibility.
Admira aims to build greater synergies across its international interests and three main business areas, which Nieto defined as traditional media (TV and radio), content creation and management, and pay-TV and new technologies. In a sign of things to come, Admira last month signed a multi-year output deal with Warner Bros International Television for free-to-air, pay-TV and pay-per-view rights which it will feed its TV interests including Spain's Via Digital and Antena 3, and Argentina's Telefe and Azul TV.
Present in 23 countries, Admira also owns major interests in film producers Lolafilms and Patagonik Film Group. Nieto