Media Group Prisa Announces Capital Increase Of $69M; IMG To Subscribe To Shares

Media group Prisa "strengthened its capital," according to AS. The company on Friday announced to Spain's National Commission of Markets & Competition (CNMC) the decision to "carry out a capital increase" in which the business will capture €64M ($68.9M). The new shares will be subscribed to by IMG, which will be able to designate two Prisa consultants. Prisa's administrative council agreed to the capital increase through the release of 6.4 million new shares at a price of €10 ($10.77) per share. This new capital increase replaces the one announced on Feb. 27, "whose terms will not take effect." The operation will be directed at IMG, which will "fully subscribe to the capital increase" (AS, 11/14).