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related:
Pearson
Financial
Times
RCS
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This
page deals with the Recoletos publishing group.
It covers -
overview
Recoletos was Spain's second largest newspaper publisher
as of 2005, with imprints that included -
Expansión
Marca
Telva
El Mundo (30% Recoletos, 70% RCS
through Unedisa)
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%), Veo Television (27.7%) 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.
The
MBO resulted in Recoletos Grupo de Comunicaciòn,
which was acquired by RCS for €1.1 billion (including
some €270 million debt) in 2007.
Basque publisher Vocento paid €132m for Recoletos'
free daily
Qué! (launched in 2005 and competing with
20 Minutos). Vocento publishes national daily ABC,
regional dailies and free dailies in Bilbao (El Nervion)
and Malaga (Que Pasa). It also has a 30% stake
in the Valencia free daily El Micalet.
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