MFE denies Spain CEO ‘dismissal’ rumours

MediaForEurope has denied what it describes as “rumours” in the Spanish press that it forced the departure of Mediaset España CEO Paolo Vasile after the latter confirmed he would leave the company later this month.

“With regard to rumours appeared today on the main Spanish press websites, MFE declares that there is no dismissal of Paolo Vasile as CEO of Mediaset España and that the results obtained by him in 23 years of management are unique and extraordinary. The relationship with the shareholder is and will remain excellent,” MFE said in a statement.

Vasile, 69, told press his departure had been agreed some time ago but had been delayed due to the impact of the COVID pandemic.

Vasile has been at the helm of the Spanish broadcaster, which airs the Telecinco and Cuatro channels, for 23 years. He is credited with building a successful operation and with being an innovative programmer who delivered for Mediaset, but audience numbers have dipped in recent months.

Vasile was reportedly unhappy that news of his departure was leaked in advance.

In April, Peninsula Capital founder Borja Prado was named president of Mediaset España, replacing Alejandro Echevarria. MFE is expected to push for a new structure in the wake of Vasile’s departure.