Televisa In Cash Boost For La Sexta

Mexican TV group Televisa is injecting an extra €52 million into the Spanish commercial network La Sexta, in which it has a 40% share, taking its total investment of more than €265 million by the end of 2009.
The injection forms part of a capital enlargement of €130 million with €78 million being provided by its other shareholders, GAMP (Imagina, Chascarrillo, BBK, Bainet, Torreal), with 51% and Gala Capital, with 9%.
The channel has failed to meet its initial financial expectations that included an investment of €500 million until the end of 2009 when it was supposed to reach breakeven, and an average audience share of 7% (in October it achieved a 6.2%).
Its battle with rival network Sogecable over FTA football TV rights and the sharp advertising drop, estimated at 17% this year, have hit the channel hard.
(BMcC)