Mediapro mulling IPO

Spanish producer and broadcaster Mediapro is mulling an IPO one year after Chinese investment group Orient Hontai took a 53% stake in the company, Mediapro co-founder Tatxo Benet has told a Spanish newspaper.

Speaking to financial daily Expansión, Benet said that the flotation would not be in the immediate future and that a final decision would depend on the evolution of market conditions. 

The last year has been one of intensive activity for Mediapro, with the launch of production outfit The Mediapro Studios, requiring a big commitment to invest in scripted series and other content, the acquisition of premium sports rights in new markets and the acquisition of companies in Mexico and Chile. 

Benet said that the increase in investment in new ventures by Mediapro over the last year meant that it could look at a stock market flotation to raise additional funds on top of its own cash-generation capability and access to debt. 

Benet told Expansión that Mediapro’s private equity investor could seek to exit at some point, making the case for an IPO stronger, although he emphasised that there was no urgent need to float. 

He said that any flotation would require preparatory work, including the appointment of independent directors.