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Recoletos

This page deals with the Recoletos publishing group.


It covers -

  • overview
  • history

Overview

Recoletos is Spain's second largest newspaper publisher, with imprints that include -

  • Expansión
  • Marca
  • Telva
  • El Mundo (30%)
  • Económica (50%)
  • Que! - daily free metro in 12 Spanish cities (inc Mallorca, Oviedo, Vigo, Seville, Madrid, Barcelona, Zaragoza, La Coruna, Alicante, Bilbao and Malaga)

and stakes in Antena 3 (10%) and Via Digital (5%).

Marca - a sports newspaper - is the nation's "most read" daily. Expansión accounts for 60% of Spain's business newspaper market.

Recoletos also encompasses Spanish-language newspapers in the US and interests in Portugal, Argentina and Chile.

The group competes with Prisa, publisher of El Pais.

History

It was formed in 1977 by a group of journalists who formed Punto Editorial SA and acquired Actualidad Económica magazine. Rebadged as Recoletos Compañía Editorial, the group subsequently acquired other publications such as Telva womens fashion magazine in 1981 and Marca in 1987, launching Expansión in 1986 and Diaria Médico.

It expanded into Chile in 1995 and acquired 10% of Antenna 3 Television in 1998.

Pearson Overseas Holdings Ltd bought a 35% stake in 1988, becoming the dominant shareholder in 1994 and increasing its holding from 57% to 99% in December 1999.

Recoletos and RCS subsidiary Rizzoli acquired joint control of Unidad Editorial SA (Unedisa) - publisher of El Mundo - during that year.

Pearson's holding in Recoletos was reduced to 79% in October 2000 when shares in Recoletos were listed on Madrid stock exchange. In 2004 Recoletos gained control of Meximerica Media, a US-based Spanish-language newspaper publisher.

In December 2004 Pearson announced that it had agreed to sell its stake to Retos Cartera, a management-led consortium, in a €743 million deal expected to bring a cash payment of £380 million.

Pearson's chief executive commented that Recoletos' overall editorial strategy no longer fitted with the FT Group.

Now that its strategy - in sport, lifestyle and general publications - is taking it further away from the FT Group's focus on business and financial news and information, it is time for us to part company.