“Continuing its acquisitions spree, but this time in Europe, Patrick Drahi’s Altice N.V. announced Friday it has reached a definitive agreement to acquire the 94.7% of Media Capital, Portugal’s biggest media company held by Spanish media group Prisa.
Media Capital’s assets take in the country’s biggest free-to-air broadcaster, TVI, and its largest content producer, Plural Entertainment.
The acquisition values Media Capital at €440 million ($503 million), subject to debt and working capital adjustments, Altice said in a press statement Friday. The purchase is a clear drive towards broadband-TV convergence, the gameplay pursued by Drahi (pictured) in the U.S. and France. In Portugal, Altice already owns Portugal Telecom, the country’s biggest operator.”
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